Ripple (XRP) Price Analysis – February 28
XRPUSD upward direction is revealing as the bull gains momentum. XRPBTC is following a long decline – a strong bears’ dominance. However, Ripple markets are trading in
XRP-USD Market (4H Chart)
Resistance levels: $0.34, $0.37, $0.40;
Support levels: $0.28, $0.25, $0.22.
From a Medium-term perspective, XRP is gradually maintaining a higher high, higher low pattern – a bullish momentum in play. The market volume size is increasing.
The retracement move lasted on the last three 4-hours candle, touching the base of the trend line; and closing with a pin bar – a buy signal. A push is likely to shoot price to the upper channel, where $0.34 resistance level lies. The 4-hours MACD currently rests in the negative zone. A further low might drop price to retest the aforesaid support level.
XRP would, however, continue in an ascending channel pattern until a price break is experienced. From above, the key resistance levels are $0.37 and $0.40. By then, the MACD should trend above the zero line. From below, the major supports are $0.28, $0.25 and $0.22; a low drive would possibly reveal on the MACD.
XRP-BTC Market (4H Chart)
Ripple as a
With respect, the crypto-asset is following the descending channel as a diagonal support and resistance level since early February. Currently, a swing low is approaching the lower trend line at 7800 SAT support – the rally is reflected on the 4-hours MACD oscillator. A possible rebound might trigger at the mentioned support.
In case the trend reverse, XRP price is likely to shoot high; targeting the nearest key resistance levels at 8600 SAT and 9500 SAT. Otherwise, the rally might continue and the value of the coin might witness further losses.
Latest XRP Developments
Despite the fact from the previous week that Craig S Wright has condemned XRP, purporting It has legal and technical problems, the asset is possibly living its moment with the latest developments.
After Nasdaq has launched Bitcoin (BLX) and Ethereum (ELX) liquidity Indexes on February 26, that Brave New Coin (BNC) officials said that XRP index will be launched next. BNC is now finalizing on the RLX (Ripple Liquid Index) and is working with many participants to develop custom basket indices.
Also, on February 22, OKEx has launched XRP fiat-to-crypto trading and on February 17, Spend.com has integrated XRP in its platform thus meaning that you can now spend XRP at over 40 million locations in over 118 countries.
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