XRP Price Analysis – February 12

Share On Facebook

XRPUSD Medium-term Trend: Bearish


• Resistance Levels: $0.56, $0.58, $ 0.60
• Support Levels: $0.29, $0.27, $0.25

On February 8, the XRP price made some bullish gains but thereafter the price pulled back to the low of $0.30. The downward correction has made the crypto’s price fall into the bearish trend zone. The bulls have held on to the $0.30 price level for the third day. On the downside, if the bulls fail to hold on to the price, the crypto’s price will find support at the low of $0.29.

If the $0.29 price level is broken, the crypto will depreciate to the lows of $0.27 and $0.28. On the upside, the bulls are making an attempt to break above the EMAs. If the bulls have a price breakout at the $0.30 price level, the crypto will rally to the highs of $0.33 and $0.40 price level. Meanwhile, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that the price is in the bearish trend zone.

Also, the stochastic band is out of the overbought region, but above the 20% range. This indicates that the price is in a bullish momentum and a buy signal.

XRPUSD Short-term Trend: Bearish

On the 1-hour chart, the XRP price was in a bearish trend zone. On February 10, the bears broke the 12-day EMA, the 26-day EMA and the price fell to the low of $0.30. The crypto’s price has been ranging at this level for the past three days. It is possible that another price breakout is imminent. The bulls are attempting to break above the EMAs.

Meanwhile, the stochastic band is out of the oversold region but above the 40% range. This indicates that the XRP price is in a bullish momentum and a buy signal.


The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.


SOURCE: https://www.cryptoglobe.com/markets/price-analysis

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20190620 08:16:28