• Ripple is trading 6.28% higher and has just broken the 0.3000 level.
  • The XRP/USD price is still in a channel formation and looks set to test the top.

 

XRP/USD is one of the outperformers in the cryptocurrency markets, trading 6.28% higher on the session.

The price structure interestingly stayed in an uptrend while lots of the crypto majors fell to lows in Wednesday's session.

We see why, as the trend of higher lows and higher highs continues. There was a really strong thrust higher which momentarily stopped at 0.3000 and subsequently price broke through on the next four-hour candle on the chart below.

The price is above the peak of the bell curve on the volume profile indicator and could continue to the next resistance at 0.3270, which is the wave high from September 18th. 

On the daily chart, we are still in a downtrend and only if the wave high of 0.3270 is broken we can consider it a technical break in trend. 

Also of note, on the relative strength index (RSI) indicator, the waves may make a lower high despite price making a higher high this is often an indication of bullish momentum running out of steam. We will have to wait and see if that is the case.

Ripple Analysis

XRP/USD

Overview
Today last price 0.3013
Today Daily Change 0.0174
Today Daily Change % 6.13
Today daily open 0.2839
 
Trends
Daily SMA20 0.2619
Daily SMA50 0.2637
Daily SMA100 0.2855
Daily SMA200 0.3295
 
Levels
Previous Daily High 0.2923
Previous Daily Low 0.2788
Previous Weekly High  0.2879
Previous Weekly Low  0.2515
Previous Monthly High 0.327
Previous Monthly Low 0.2168
Daily Fibonacci 38.2% 0.2839
Daily Fibonacci 61.8% 0.2871
Daily Pivot Point S1 0.2777
Daily Pivot Point S2 0.2715
Daily Pivot Point S3 0.2641
Daily Pivot Point R1 0.2912
Daily Pivot Point R2 0.2985
Daily Pivot Point R3 0.3048

 

 


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