Ripple (XRP) Price Analysis – March 13. Pairing Dollar, Ripple is currently at the angle of a symmetrical triangle as the next headway is unknown. Against Bitcoin, the price is nearing a strong support level where a possible trend reversal lies. However, both markets are likely to witness a turning point. Currently, the third largest coin holds a market cap of $12.8 billion.
Resistance levels: $0.33, $0.34, $0.35
Support levels: $0.30, $0.29, $0.28
After witnessing an upward movement to $0.355 high in mid-February, Ripple retraced and follow a symmetry triangle pattern; now reaching the end of the angle as trade tightens. At any moment from now, the crypto-asset is expected to play out at either way. In the last 24-hours, XRPUSD trading has been stable at $0.31 price level. Look at the 4-hours RSI trending side-way.
Still maintaining a bullish trend, a low swing could find a bottom at $0.3 and $0.29 support levels below the triangle. Above the triangle, the next key resistance levels are $0.33, $0.34 and $0.35.
As the 4-hours Stochastic RSI reaches the 80 line, a potential fall is suggested. The sellers might possibly position the market in a decline. As of now, traders are watching out for the next move as XRP remains indecisive.
Following XRPBTC market on a medium-term trend: the beginning of 2019 has been a boring moment for Ripple enthusiasts as market losses 38% from the yearly high. After the late February spike, the price action continued downward rally in a bearish flag pattern. The 4-hours RSI revealed a strong decline.
Today, Ripple is now trading at 8000 SAT price level as the 4-hours Stochastic RSI suggests a selling pressure. The closest major support lies at 7900 SAT, touch the lower channel. A bounce up is more likely to occur at the above support.
At the current price level, a rise-up could send price to 8100 SAT, where the upper channel lies. A further move above the channel would test 8200 SAT and beyond. However, a trend reversal is expected at the next support level.
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