| |
After a 2-day ascension on the charts, the cryptocurrency held above the $0.255 level on the 13th of October. Ripple price prediction by YM Group suggested that the cryptocurrency will break past $0.26 next.
1-Day Ripple price analysis
The coin was held by the $0.255 support over the 24-hour trade while it tests the $0.26 resistance. A break above this level will allow Ripple to move upwards. The cryptocurrency was priced at $0.255 at the time of writing.
Ripple finds support at $0.255
After a continuous uptrend for two days, the XRP price was expected to short on the 13th of October. Solldy drew a resistance below the $0.258 mark, and they expected the price to drop to the ascending trendline that lies at $0.255.
The trendline should continue to hold the altcoin above the $0.255 mark with a gradual uptrend. If we look at the 1-hour chart, the currency appears to be trading inside an ascending channel. This channel can lead the price towards the $0.26 mark soon.
Where is Ripple XRP price headed?
An ascending triangle formation has appeared on the 6-hour chart for the pair. The coin recently moved above a big descending channel (black), and stepped into an ascending channel.
The price has been firmly supported by the 30-Day Exponential Moving Average, which has formed the ascending triangle’s lower boundary. A continuation towards the upside can be expected if the price breaks above a red horizontal resistance above the $0.26 level. An upward breakout will trigger a bullish momentum for Ripple.
Ripple price prediction affirmative for $0.26 ahead
XRP has been trending upwards from the 4th of October. On the 8th of October, the price trajectory jumped above a resistance-turned-support at $0.254. The altcoin has been testing the horizontal resistance at $0.26 for the past couple of days.
This support structure marked near $0.254 is important for XRP to hold as the price needs to stay above it to test the $0.26 resistance. A break above this resistance level will allow Ripple to form a new uptrend and test higher resistances.
If we look at the charts, the XRP price stepped below the $0.26 support-turned-resistance during the start of September.
The bears have held back the price from testing $0.26, the Relative Strength Index (RSI) appears to be ascending on the scale as well. This means that the coin is gaining bullish momentum. However, currently, XRP is testing the $0.26 resistance, and a break above this resistance will be important to confirm the bullish trend. If the break occurs, the target prices near $0.29 and $0.30 are expected to be met by Ripple.
The ascending move followed by Ripple from the 24th of September was due to an ascending trend line. The Moving Average Convergence Divergence (MACD) line also appears to be rising, while the histogram size decreases in the negative region.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
