February 13, 2018 – Ripple Price Watch.
- Ripple recently broke above the $1.05 price level, reaching as high as $1.09
- A bullish trend line is forming to test resistance at around $1.00
- Short-term averages are giving a bullish signal
Ripple Breaks Above $1.05, Further Upside Shown
Ripple (XRP) recently broke above the $1.05 level to as high as $1.09, but has since pulled back to around the $0.995 mark. It is trading at $0.9919 as of 3 PM EST, up by 31% over the past seven days, pulling away from the pivotal $0.8000 level.
The current 23.6% Fibonacci retracement level stands at $0.9745, meaning that XRP is unlikely to fall below this. A new bullish trend line is forming from this point, testing a resistance of around $1.00. If this could hold, the next move is toward a short-term upside of $1.10.
In terms of MACD, the indication is that XRP is in a bullish zone, evident from a crossover by the MACD and signal lines. This is also confirmed by the short-term moving average lines. Volume has quieted over the past hours, so nothing dramatic is expected soon, and it is likely that XRP will be in the range of $0.9750 to $0.9950 for now with potential to reach around $1.00.
Looking at the Technical Indicators:
- MACD — XRP is in a bullish zone
- Short-term Moving Averages — Bullish signal
- Major Resistance Level — $1.00
- Major Support Level — $0.9745
Featured Image: twitter
This article was curated from Google News. You can read the original article here.