Ripple: Price Analysis, August 27

25

XRP/USD

The range in Ripple has shrunk in the past three days. The market participants are interested in neither buying or selling at these levels. This state of equilibrium is unlikely to continue for long.




XRP/USD




A breakout of the 20-day EMA is likely to carry the XRP/USD pair to the 50-day SMA at $0.40, with minor resistance at the downtrend line 2. Above the 50-day SMA, the downtrend line 1 is the next major resistance point. Short-term traders can piggyback on this pullback trade, but only with a smaller position size because the trend is still down.

On the downside, any break of the $0.30 line will result in a drop to the August 14 low of $0.24508. We will wait for a buy setup to form before recommending any positions.

1 Comment
  1. Princess says

    Thanks, it’s quite informative

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.