Ripple (XRP) Price Starts Significant Uptrend: Can It Test $0.50?
Ripple price is up more than 15% again today and it recently broke $0.420 against the US dollar.
The price surged above the $0.4300 level and traded to a new 2019 high near the $0.4480 level.
There is a major ascending channel forming with support near $0.4080 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair remains in a significant uptrend and it could continue higher towards $0.4600 or $0.5000.
Existing Bitcoin Exchange Dwarfs Institutional Volume: Are CME and Bakkt Overhyped?
Friday January 17, 2020
Despite successful shows of force from CME Group and Bakkt’s Bitcoin options offerings, the majority of volume still goes through Deribit. This squashes fears that the new offerings would be in direct competition with...
The post Existing Bitcoin Exchange Dwarfs Institutional Volume: Are CME and Bakkt Overhyped? appeared first on 12bitplay - Bitcoin Play.
Ripple price remained in a strong uptrend and climbed against the US Dollar and bitcoin. XRP settled above the $0.4200 level and it is likely to accelerate above $0.4500.
Ripple Price Analysis
Yesterday, we saw the start of a strong rally in ripple price above the $0.3500 resistance against the US Dollar. The XRP/USD pair broke many resistance near the $0.3800 level and settled well above the 100 hourly simple moving average. The pair is up more than 40% in the past three days and it recently cleared the $0.4000 resistance level. The upward move was strong as the price cleared the $0.4200 resistance. A new 2019 high was formed near the $0.4480 level and the price is currently in a strong uptrend.
It is testing the 23.6% Fib retracement level of the recent wave from the $0.3754 low to $0.4482 high. On the downside, there are many supports near the $0.4220 and $0.4180 levels. There is also a major ascending channel forming with support near $0.4080 on the hourly chart of the XRP/USD pair. The channel support is close to the 50% Fib retracement level of the recent wave from the $0.3754 low to $0.4482 high. Therefore, if there is a downside correction, the price may find support near the $0.4200 or $0.4100 area.
On the upside, a break above the channel resistance could push the price above $0.4500. The next key resistance is near the $0.4600, above which the price is likely to accelerate towards the $0.4800 level. In the best case, the bulls may even target the $0.5000 level in the next three sessions.
Here’s Why Analysts Are Bullish After Bitcoin Price’s Rapid 7% Plunge
Sunday January 19, 2020
Earlier Sunday, Bitcoin (BTC) suddenly fell off a cliff after its latest bout of bullish price action. Within a few minutes’ time — yes, literally a few minutes — the leading cryptocurrency slipped by...
The post Here’s Why Analysts Are Bullish After Bitcoin Price’s Rapid 7% Plunge appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, ripple price is placed in a strong uptrend above $0.4200 and $0.4100. If the price starts a major downside correction, there are chances of a break below $0.4000. The main support is near the $0.3740, where the bulls may appear. Overall, the price is likely to remain strong and trade towards $0.4800 or even $0.5000.
Hourly MACD – The MACD for XRP/USD is currently placed heavily in the bullish zone, with positive signs.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 70 level, with a flat structure.
Major Support Levels – $0.4200, $0.4100 and $0.4080.
Major Resistance Levels – $0.4500, $0.4600 and $0.4800.
The post Ripple (XRP) Price Starts Significant Uptrend: Can It Test $0.50? appeared first on NewsBTC.
Bitcoin Signal That Preceded 288% Rally About to Flash, and It’s Huge for Bulls
Monday January 20, 2020
While Bitcoin (BTC) has struggled, experiencing two plunges of 7% and 3%, respectively, the weekly chart of the cryptocurrency is on the verge of printing a bullish signal. The signal in question was last...
The post Bitcoin Signal That Preceded 288% Rally About to Flash, and It’s Huge for Bulls appeared first on 12bitplay - Bitcoin Play.