XRP Successful Bull Run Trading Jumps Above 100-Day EMA Signaling More Positive Momentum to Offer

  • XRP still trading within falling channel pattern and so far bounced off the trendline, and it’s heading to upper resistance within the channel
  • The pair of XRP/BTC makes a significant jump of 6.04% trading at 0.00001780
image 4
Source: Tradingview

XRP is trading in the falling channel pattern over the 12-Hours candlestick chart and so far bounced off the trendline and heading to the upper resistance channel with the rising support line completing the pattern heading for the positive breakout with a potential target of $0.4600 in the coming trading sessions. 

On the downside, XRP finds the support at the fib level of 0.618 ($0.260), and fib 0.5 ($0.237) on the other and the higher side, the resistance is placed at $.03032, and the major resistance is $0.3439. The coin is currently trading at $0.2980 with an intraday gain of 9.27%. Supported by the volume of $5,377,755,552 and the market capitalization stands at $13,511,953,873.

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Source: Tradingview
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On the weekly chart EMA of 20 days, the first time, it gives the positive crossover on the 50 EMA, which indicates the bulls are taking an interest in XRP. However, after trading above 100 EMA, the coin confirms a bullish signal for the investors to make the final control over XRP. 

image 7
Source: Tradingview

The Moving Average Convergence & Divergence (MACD) after the negative crossover makes the mixed-signal and, at last, heading for the positive crossover over the Bulls line (blue) over the Bear’s line (red), indicating the positive momentum in the coming trading sessions. 

image 8
Source: Tradingview

Likewise, the inverse head and shoulder pattern is observed over the daily chart with the rising support line indicating the bullish or positive momentum in the coming trading session. 

The target for the long term: 0.4600

Support levels: $0.260 and $0.237

Resistance levels: $.03032 and $0.3439 

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Krystian Bielanskihttp://www.thecoinrepublic.com
Krystian is a crypto trader and investor with a background in IT based in Hong Kong. He specialises in technical and fundamental analysis working closely with chartist and algo programmers.

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