Friday, 2 August 2019

XRP Price Prediction: Ripple remains near main support

Image by Miloslav Hamřík from Pixabay

XRP is attempting to clear the 20-day EMA. It is the main major resistance right now. If traders succeed to take XRP above the 20-day EMA, it may go up to 50-day SMA, where traders may face stiff resistance. The pair will take a boost when both moving averages are scaled. Above the moving averages, traders should target $0.45 and $0.50 levels respectively. 

However, XRP is trading near the long term support at $0.28. It's the psychological main support, thus, bulls should defend it viciously. A breakdown of this main support will be a negative sign.

RSI is in the middle which shows XRP/USD is in a consolidation period.
Traders should initiate long positions on a breakout of the moving averages or at the main support at $0.28 with a stop loss just below the main support line.


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