Ripple Price Analysis: 14 June, Ripple News

Ripple Price Dominant Trend: Ranging

Supply Levels: $0.44, $0.46, $0.48

Demand Levels: $0.36, $0.34, $0.32

Ripple (XRP) experienced a slight price decrease of approximately -1.03% in the last 24 hours, which allowed the price to return below the $ 0.40 level. However, the coin reached the resistance at the upper limit of a symmetric triangle pattern and seems to have difficulty reaching the top. It remains in third place among the best crypto-currencies, with a market capitalization of 17.06 million dollars. The XRP has now seen a promising 25% rise over the past 30 days, suggesting there may be a larger increase on the horizon. Since the last XRP/USD analysis, you can see that the XRP rate has recovered to $0.38 after the next support level and is now trading above $0.39 but currently trading below the 55-day MA. However, the XRP/USD is now operating laterally in a consolidation pattern and simply looking at the 4-hour chart, should in case it breaks and crosses down the lower side of the pattern, the market could experience a slight decline.

Looking up, if the bulls can push the market above the upper limit; you can expect the next highest resistance to be between $0.42 and $0.43. On top of that, additional resistance is located at $0.44, the highest in June 2019. Should in case the values remained above $0.44, the resistance would be between $0.46 and $0.48. Looking below, the closest support level is now $0.36. Below that, there is additional support in the lower limit of the triangle. If the sellers diverge then the support is $0.34 and $0.32. The volume of transactions is still quite boring and below average. The stochastic RSI moving to the overbought territory on the 4-hour chart, suggesting that the XRP could break below the triangle.

Azeez Mustapha @ItuGlobal

Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

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