XRP Price Analysis – July 18
The upward price of XRP is preparing for a new increase while enjoying support close to the $0.29 level. The coin has steadily climbed above $0.31 while reaching $0.32.
Supply levels: $0.43, $0.45, $0.47
Demand levels: $0.20, $0.18, $0.16
XRP was pretty much bearish till last two days as it was correcting up from its previous price as low as $0.28. Yesterday, it’s opening price was at $0.29. The Ripple coin gradually climbed above the price barrier of $0.30 and then maintained a steady surge to $0.32 with an increase of 9.11%. XRP is currently moving below the 50-day moving average and trading at $0.32, striking an increase of 5.15% over the last 24 hours.
Furthermore, Ripple price has recently started to show positive signs as it is moving upward against USD after facing extreme lows at the lower part of the Bollinger bands. XRP needs to exceed resistance near $0.35 in order to continue its price recovery and it may see major resistance at $0.43, $0.45 and $0.47 while having major support levels at $0.20, $0.19 and $0.16. The MACD chart is currently moving inside the bearish zone with its MACD line below the signal line.
Comparing with Bitcoin, XRP price is still maintaining the downward movement as the price actions continue to flow below the green descending resistance. As suggested in the daily chart, selling pressure is strongly dominant in the market as the pair may likely sell to 2000SAT and 2200SAT supports if the supply continues to outweigh demand.
However, a potential bounce up may likely meet the major resistance at 4300SAT; moving towards the upper boundary of the Bollinger bands, the next key resistance levels would be 4500SAT and 4700SATSAT. As confirmed by the Stochastic RSI, the trade is about to resume another decline, so the bulls should take note.
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