Ripple Price Analysis 19 June: XRP is Bullish

1 month ago

Ripple XRP USD Dominant Trend: Bullish

Supply Levels: $0.47, $0.48, $0.49

Demand Levels: $0.39, $0.38, $0.37

The value of the XRP was appreciated by 5% in the last two days, with positive exchanges since the bulls seemed to be dominant. After establishing a significant resistance, the crypto-asset has retreated slightly to recover a bullish momentum. If the bulls cannot keep upward pressure, we could see a short bearish movement. However, the market still looks bullish at the moment. The XRP/USD pair predicted a significant price increase of more than $0.4, which brought the market to a trading price of $0.429 at the time of writing. It is interesting to note that this is a three-day market now, which the third largest cryptocurrency continues to slowly rise within the rising wedge, showing a gradual upward movement above the 50-day MA. The recent price change was revealed in the 4-hour MACD, which reflects the bullish scenario. Currently, the market has returned to the oversold zone on the 4-hours stochastic RSI, with a selling pressure approaching the demand level of $0.39.

Also, with this support, a flaw could send the market to the $0.38 and $ 0.37 demands. If the bulls enter the competition, the price of the XRP could reach $0.47, $0.48 and $0.49 of the supply level. Technically, XRP/USD is still in bullish mode and could be fixed higher. It is initially supported at $0.40; $0.39 will offer demand, as well as $0.38 and main demand at $0.37. In addition, rumors have been confirmed that the partnership between Ripple and MoneyGram has been confirmed. The blockchain company and the funds’ transfer network will work together for cross-border payments, as well as for monetary agreements with digital assets. This partnership allows MoneyGram to obtain up to $50 million from Ripple in exchange for capital. The agreement would involve the deployment of xRapid for cross-border transfers using XRP. After having exceeded $0.46, the XRP has been corrected to $0.428 at present.

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.

Leave a Reply

Your email address will not be published. Required fields are marked*

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

If you agree to these terms, please click here.

This website uses cookies. When you are browsing Coinnounce.com, you agree with our cookie policy and terms of use.