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Ripple price analysis 27 June 2019; strong resistance may cause reversal

ripple price analysis 27 june 2019

Ripple (XRP) is the third largest currency in the cryptocurrency sphere, however, Ripple price is experiencing a non-aligned short-range trading position.

Ripple foundation tends to stabilize the Ripple price through various partnerships but there are somethings a currency has to do it on its own.

Ripple price analysis 27 June 2019; strong resistance may cause reversal 1Ripple price chart by Trading View

The XRP/USD duo is re-evaluating its 200-period moving average on the 4 hrs time frame. The 4hr time frame currently shows that the XRP/USD duo has severely inverted lower, after temporarily spiking beyond the zero point five level (0.5).

A possible bear head and shoulders pattern has started emerging on the 4-hrs time frame. The technical pointers in the said time frame are bearish and carry on signifying sell pointers.

The dealers should thoroughly observe the zero point three six five zero dollars ($0.3650) level, as it formulates the neckline of the bearish head and shoulders outline.

Similarly, the RSI and MACD indicators have turned bearish on the 4-hr time frame and continue to show a sell signal.

Ripple price analysis 27 June 2019; strong resistance may cause reversal 2

Ripple price chart by Trading View

Ripple price is experiencing a bullish mid-term trading position. The XRP/USD duo is still holding beyond its breakout point on the daily time frame.

The said time frame depicts that a huge bearish reversal candle is forming, with the XRP/USD duo renouncing a large share of its hard produced profits. The pointers on the daily time frame are turning worse and are trying to turn bearish.

The dealers should observe the approaching critical technical support on the said time frame remains at zero point three six five zero dollar ($0.3650) and zero point three dollar ($0.3000) points.

The RSI and MACD indicators on the daily time frame have also starting to turn bearish as well.

The Ripple based XRP is experiencing a growing downside pressure in both time frames, after promptly retreating from its present 2019 trading high.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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