Ripple Price (XRP) Signaling Fresh Increase While Bitcoin Still Below $10K
Ripple price found support near the $0.2830 level and recovered recently against the US dollar.
The price traded above the $0.2940 resistance and the $0.3000 pivot level.
This week’s followed bearish trend line was breached with resistance near $0.3040 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price is now trading with a few positive signs above the $0.3050 support area.
Bitcoin’s Chart Looks Eerily Similar to $3,000 Bottom; Is the Pain Over?
Monday December 09, 2019
Is the bottom in? Since Bitcoin (BTC) fell precipitously to $6,600 late last month, analysts have been asking if the leading cryptocurrency has finally found a price bottom after a multi-month downturn. According to...
The post Bitcoin’s Chart Looks Eerily Similar to $3,000 Bottom; Is the Pain Over? appeared first on 12bitplay - Bitcoin Play.
Ripple price is currently trading with a bullish angle against the US Dollar and bitcoin. XRP price could extend its recovery if there is an upside break above the $0.3230 resistance area.
Ripple Price Analysis
Yesterday, we saw a strong drop in bitcoin and Ethereum, but dips were limited in ripple price against the US Dollar. The XRP/USD pair broke the $0.2940 support level and traded to a new monthly low. A swing low was formed near $0.2833 and recently the price started an upside correction. There was a break above the $0.2940 and $0.3000 resistance levels to start a recovery.
Moreover, this week’s followed bearish trend line was breached with resistance near $0.3040 on the hourly chart of the XRP/USD pair. It opened the doors for more gains above the $0.3150 resistance. However, the upward move is facing hurdles near the $0.0.3230 and $0.3240 resistance levels. As a result, the price corrected gains below $0.3150 and the 100 hourly simple moving average. Besides, there was a break below the 23.6% Fib retracement level of the recent wave from the $0.2833 low to $0.3248 high.
However, there are many supports on the downside near the $0.3050 and $0.3040 levels. The 50% Fib retracement level of the recent wave from the $0.2833 low to $0.3248 high is also near the $0.3040 level. There is also a connecting bullish trend line forming with support at $0.3045 on the same chart.
Therefore, the price is likely to find bids near the $0.3040 or $0.3050 level. Below the trend line and $0.3040, the price may perhaps test the $0.3000 pivot level. On the upside, the main resistance is near the $0.3230 and $0.3240 levels. If there is a convincing break above $0.3240, the price could accelerate gains in the near term.
Bitcoin Scaling Layer Lightning Network “Works Like a Charm”, Says Bitfinex CTO
Monday December 09, 2019
The first week of Lightning Network support at cryptocurrency exchange Bitfinex, has seen more than 800 transactions make use the Bitcoin payments layer. The company’s Chief Technical Officer Paolo Ardoino says customers have deposited...
The post Bitcoin Scaling Layer Lightning Network “Works Like a Charm”, Says Bitfinex CTO appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, ripple price remains well bid above the $0.3040 level. As long as there is no close below $0.3000, the price is likely to continue higher. A clear break above $0.3240 might push the price to $0.3450.
Hourly MACD – The MACD for XRP/USD is likely to gain strength in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 50 level, with a bullish angle.
Major Support Levels – $0.3050, $0.3040 and $0.3000.
Major Resistance Levels – $0.3230, $0.3240 and $0.3320.
The post Ripple Price (XRP) Signaling Fresh Increase While Bitcoin Still Below $10K appeared first on NewsBTC.
Bitcoin CME Futures Gaps Are Filled With 95% Certainty, But Trading Them Is Risky
Thursday December 05, 2019
If you’ve been a crypto investor or traded Bitcoin at all during 2019, chances are you’ve heard repeated discussion surrounding the “gaps” on Bitcoin futures charts offered by the Chicago Mercantile Exchange. But what...
The post Bitcoin CME Futures Gaps Are Filled With 95% Certainty, But Trading Them Is Risky appeared first on 12bitplay - Bitcoin Play.