Crypto Currency Tracker logo Crypto Currency Tracker logo
Cryptopolitan 2021-09-14 15:54:07

Ripple price analysis: Can bulls break through the $1.10 resistance

TL;DR Breakdown Ripple price analysis suggests sideways movement across the short termThe closest support level lies at $1.050XRP faces resistance at the $1.10 mark. The Ripple price analysis shows that the asset has observed a drastic decline in its price volatility over the last few days as majority of traders seem to be speculating about the markets. The market sentiment was bullish a few days ago but now seems to have taken a bearish turn as the $1.050 support level has been breached twice in the past three days.  The broader cryptocurrency market observes a bullish sentiment over the last 24-hours as most major cryptocurrencies record a positive change over the period. Major players include AVAX and ADA that record a 12.00 and an 11.20 percent incline respectively.  Ripple price analysis: Bulls struggle for market dominance Technical indicators for XRP/USDT by Tradingview Across the technical indicators, the MACD is bullish as expressed by the green histogram. The indicator exhibited a crossover on September 9 and has been bullish since. However, despite that, the momentum has remained low as the price continued to oscillate between the $1.00 mark adn the $1.150 mark with little to no movement beyond this region.  The EMAs are currently moving upwards showing strong buyer activity at press time. However, the 26-EMA has been catching up to the 12-EMA which has observed a declining gradient due to the selling pre...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.