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Ripple XRP Technical Analysis: XRP Spearheads Recovery, Adds 10%

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Like most coins, Ripple and XRP are bullish. Not only are we seeing important partnerships that steels XRP and xRapid,  XRP prices are also on a recovery path adding a massive 13 percent in the last day helping propel prices from 25 cents supports. Technically, this recovery might continue though XRP is within a bear trend as the weekly chart shows.

From the News

Standard Chartered, UBS and more than 50 global banks are some of the main players making use of RTXP and several of Ripple’s products as xCurrent and xRapid. There are several demonstrations that have shown that using xRapid and XRP for example significantly helps slash cost of transaction.

While it’s perfect for supporters, users-financial institutions can either make use of xCurrent–a solution that doesn’t incorporate XRP or xRapid, a gross time settlement solution that make use of XRP. If more business make use of the latter then XRP acting as an on demand liquidity tool will definitely gain traction inching higher from current lows.

That is perhaps the reason why the company is trying hard to build an ecosystem around XRP and xRapid. Recently, Ripple said they have partnered with US cryptocurrency exchange Bittrex, Mexico’s Bitso and Philippine’s coins.ph with exchanges facilitating exchange from XRP to fiat and vice versa.

Since transactions are on-chain there is guarantee of speed, safety and above all savings especially for individuals working in the diaspora wishing to send funds to their families in the US, Mexico and Philippines.

In other news, Kuwait Finance House (KFH) did carry out their first XRP transaction via xRapid. The firm is one of the biggest largest in Kuwait with a staggering market cap of $8.2 billion and trading in the country’s stock exchange.

Technical Analysis

Weekly Chart

XRP Technical Analysis

XRP Weekly Chart by Trading View

Before concluding that XRP is bottoming and that the bear trend is finally over, the weekly chart hints of a different ball game. First, we must acknowledge that periods of extreme volatility is often followed by stagnation in price as historical prices have shown from time to time.

This is why this week’s revival is nothing new and is common following deep price erosion that saw two main levels of support (at 40 cents and 35 cents) being broken. Considering this week’s gains, we expect XRP bulls to find resistance anywhere between 35 cents and 40 cents. On the flip side, surges above 50 cents or 55 cents invalidates our bearish projection.

If that happens then we shall have a nice double bar bullish reversal pattern in the weekly chart which would conclusively mean XRP buyers are back in contention.

Daily Chart

In the top 10, XRP is one of the top performers adding 10 percent in the last 24 hours.

After yesterday’s encouraging bullish engulfing candlestick, a three bar bullish reversal pattern is the result. That means aggressive traders can begin loading up at spot prices. In that case, stops at Aug 17 lows at 28 cents and first targets at 50 cents is ideal.

On the other hand conservative traders can wait for bulls to close above 35 cents. Thereafter, they can take longs with targets at 50 cents and later 50 cents should buyers follow through.

READ MORE:

Why Ripple (XRP) can jump 100x in value and become the world currency

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Bitcoin (BTC/USD) forecast and analysis on September 25, 2018

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Cryptocurrency Bitcoin (BTC/USD) is trading at 6706.08. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Bitcoin. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 6590.00 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with the target near the level of 7190.00.

Bitcoin (BTC/USD) forecast and analysis on September 25, 2018

Bitcoin (BTC/USD) forecast and analysis on September 25, 2018

The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 6580.00. The abolition of the option of continuing Bitcoin growth will be the breakdown of the lower border area of ​​the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of ​​6200.00, indicating a change in the bearish trend for BTC/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.

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Ripple (XRP/USD) forecast and analysis on September 25, 2018

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Cryptocurrency Ripple (XRP/USD) is trading at 0.5761. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Ripple. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 0.5300 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 0.7210.

Ripple (XRP/USD) forecast and analysis on September 25, 2018

Ripple (XRP/USD) forecast and analysis on September 25, 2018

The conservative area for buying is located near the middle border of the Bollinger Bands indicator strip at 0.4680. Canceling the option of continuing Ripple growth will be the breakdown of the mid-range area of ​​the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of ​​0.4500, indicating a change in the bearish trend for XRP/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.

Read More;

Why Ripple (XRP) can jump 100x in value and become the world currency

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Ethereum (ETH/USD) forecast and analysis on September 25, 2018

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Cryptocurrency Ethereum (ETH/USD) is trading at 245.16. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Ethereum. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 238.00 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 280.50.

Ethereum (ETH/USD) forecast and analysis on September 25, 2018

Ethereum (ETH/USD) forecast and analysis on September 25, 2018

The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 220.50. The abolition of the continuation of Ethereum growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of ​​200.00, which indicates a change in the trend in favor of the bearish for ETH/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.

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