Ripple [XRPUSD] could reach $0.22 if it breaks this trendline | Tether [USDTUSD] appears Bearish

Ripple and Tether are the highest traded cryptocurrencies in terms of volumes. While most of the cryptocurrencies turned bullish, including Ripple, technicals point to a bearish outlook for Tether.

A potential vaccine in the making boosted the US Equity markets as we begin a new week. Drugmaker, Moderna, said it achieved positive results from human trials of vaccine development. 

Fueled by rising demand and significantly growing investor participation, BTCUSD looks steady. And there’s no way that XRPUSD would fall behind if Bitcoin rises. 

 

Ripple could witness a further rally

Source: TradingView.com

The day’s range for XRP is $0.20106 — $0.20800. The daily timeframe for XRPUSD reveals that Ripple is moving in a trend. 

The technicals indicators currently point at a positive breakout of XRPUSD over the trendline. In case, Ripple breaks out with large volumes, XRPUSD could reach $0.226 before it faces stiff resistance. That is a 10.18% jump in prices.

The MACD indicator seems poised to have an upward crossover pretty soon. The RSI is currently bullish. Combining the MACD with the RSI, we get a highly probable bullish momentum for Ripple.

Ripple’s daily traded volume surpassed 85 million today!

 

USDTUSD: Technical analysis and price movement

With a daily traded volume of approximately 3 million, Tether is one of the most popular cryptocurrencies around. The similarity in the USDTUSD movement with the Dow Jones is uncanny.

On the one hand, when most cryptocurrencies became bullish, technical indicators suggest that USDTUSD could have become very bearish.

The daily-timeframe for USDTUSD reveals the bearish movement of the MACD. It seems to be going further down. RSI, however, is neutral at the moment.

Considering the technicals, and the similarity between the movement in Tether and the Dow, it could suggest that Wall Street could be heading towards a further decline.

Groundbreaking news related to vaccine development against the Coronavirus or proper relief measures is vital for a complete turn around of the US Equity markets.

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