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Ripple, This Time Is Really Different

2018-09-22_XRPUSD

This time is really different for Ripple priced in USD  that has spiked and hitten resistance levels with perfection before retreating. In clear contrast with previous bullish reversal attempts the MACD crossover  (bottom indicator, circled) is foretelling a persistent move higher should take shape if confirmed by the weekly close, which will be on coming Monday, 24 September. Most logical buy level is the 7-period weekly moving average around the $0.35 level (upward pointing arrow head + circled price level). Bullish case will remain valid as long as the price does not close below the recent tweezer bottom at $0.246 (even if it spikes temporarily below it). Volatility is now compressed again and we should expect Ripple’s price ending up breaking out from the volatility envelop in a similar fashion to the December 2018 event that saw a 1,400% price increase in 4 weeks.

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