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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Ripple Price Technical Analysis 2017-10-26

Aayush Jindal
Aayush Jindal
7 years ago
2 mins read
Ripple Price Technical Analysis XRP USD

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Key Highlights

  • Ripple price is holding an important support at $0.1950 against the US Dollar.
  • There is a bearish trend line forming with resistance at $0.2050 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price might break the $0.2050 resistance to trade towards the $0.2150 level in the near term.

Ripple price is trading in a range against the US Dollar and Bitcoin. XRP/USD needs to break the $0.2050 resistance to gain upside momentum.

Ripple Price Resistance

There was not much action during the past few hours in Ripple price, but it held the $0.1950 support against the US Dollar. Recently, the price started a downside move from the $0.2165 swing high and corrected below the 38.2% Fib retracement level of the last leg up from the $0.1850 low to $0.2165 high. However, the downside move was protected by the $0.1950-60 support zone and the 100 hourly simple moving average.

Moreover, the 50% Fib retracement level of the last leg up from the $0.1850 low to $0.2165 high is currently acting as a strong support. As long as the price is above $0.1950-0.1960 and the 100 hourly SMA, it remains supported. On the upside, there is a bearish trend line forming with resistance at $0.2050 on the hourly chart of the XRP/USD pair. A break above the $0.2050 resistance would open the doors for more gains above the $0.2100 level. The next stop could be the last swing high near $0.2165-68.

Ripple Price Technical Analysis XRP USD

The current bias seems to be neutral above $0.1950. We need to wait for an upside break towards $0.2150 for the next major move in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slowly moving into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 50 level.

Major Support Level – $0.1960-50

Major Resistance Level – $0.2050

 

Charts courtesy – Trading View, Kraken

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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