Ripple (XRP) Following Uptrend, BTC & ETH Remain Well Supported

Ripple price is trading above the $0.2980 and $0.2950 support levels against the US dollar.
The price is likely to break the $0.3060 and $0.3080 resistance levels in the near term.
There is a major rising channel forming with support near $0.2990 on the hourly chart of the XRP/USD pair (data source from Kraken).
Ethereum is also rising steadily and it is likely to break the $200 resistance.

Bitcoin Just Violently Rejected $8,600: Here’s Why It Likely Means Retest of $7,000s
Thursday January 23, 2020

The bitcoin price just strongly rejected the $8,600 level, breaking down from a tight range for the first time in four days. BTC dropped below $8,400 on major exchanges like BitMEX, leaving the dominant...

The post Bitcoin Just Violently Rejected $8,600: Here’s Why It Likely Means Retest of $7,000s appeared first on 12bitplay - Bitcoin Play.

Ripple price is showing positive signs above $0.2850 against the US Dollar, while bitcoin is trading sideways. XRP price must break $0.3100 to accelerate higher.
Ripple Price Analysis
In the past three sessions, there was a steady rise in ripple above the $0.2850 and $0.2880 resistance levels against the US Dollar. Moreover, XRP/USD climbed above the $0.3000 resistance levels and settled well above the 100 hourly simple moving average.
There was a spike above the $0.3060 level and the recent swing high was formed near the $0.3065 level. At the moment, the price is correcting lower below the 23.6% Fib retracement level of the upward move from the $0.2930 low to $0.3065 high.
An immediate support on the downside is near the $0.3000 area. It coincides with the 50% Fib retracement level of the upward move from the $0.2930 low to $0.3065 high.
Additionally, there is a major rising channel forming with support near $0.2990 on the hourly chart of the XRP/USD pair. More importantly, the 100 hourly SMA is near the $0.2980 area to provide support.
Therefore, a downside break below the $0.2980 support might start an extended correction. The next major support is near the $0.2950 level, below which the price might revisit the $0.2880 support zone, followed by the $0.2850 pivot area.
An intermediate support for ripple is near the 76.4% Fib retracement level of the upward move from the $0.2930 low to $0.3065 high. On the upside, an initial resistance is near the $0.3060 level. If there is a clear break above the $0.3060 level, the price is likely to climb towards the $0.3100 and $0.3120 levels.

Ethereum Just Broke $160 And It’s Vulnerable to a Larger Decline Below $155K
Friday January 24, 2020

Ethereum is declining and it recently broke the $160 support, similar to bitcoin. ETH price is likely to continue lower below the $158 and $155 support levels in the near term. Ether price is...

The post Ethereum Just Broke $160 And It’s Vulnerable to a Larger Decline Below $155K appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, ripple price is showing a lot of positive signs above the $0.3000 and $0.2980 levels. As long as there is no close below the $0.2980 support area, there could be an upside continuation. If not, the price may perhaps start an extended downside correction towards the $0.2880 and $0.2850 support levels.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving back into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is correcting lower and it could test the 55 level.
Major Support Levels – $0.2990, $0.2950 and $0.2950.
Major Resistance Levels – $0.3060, $0.3100 and $0.3120.
The post Ripple (XRP) Following Uptrend, BTC & ETH Remain Well Supported appeared first on NewsBTC.

Bitcoin Drags Total Crypto Market Cap Back Below Key Level as Altcoins Shine
Tuesday January 21, 2020

Last week’s explosion in growth across Bitcoin and the altcoin market caused the total cryptocurrency market cap to all break above the 200-day moving average – an important level that smart money often trades...

The post Bitcoin Drags Total Crypto Market Cap Back Below Key Level as Altcoins Shine appeared first on 12bitplay - Bitcoin Play.

You may also like...