Dominant bias for RIPPLE (XRP) – Bullish
Resistance Levels- 0.6000 $0.6500, $0.7000
Support Level-$0.3500, $0.3000. $0.2500
XRP’s journey to the moon remains on course with the bulls increased momentum northward as predicted yesterday. $0.4873 was the high made on the 16th October as the session came to an end within the 38.2 fib level, a trend continuation zone from the low 50.0 fib level. The bullish momentum was sustained despite the bearish 4-hour opening candle at $0.4842 on 17th October. $0.4975 in the resistance area was attained nicely, few pips away from the $0.5000 bulls’ target just as the bullish pressure became stronger. This was a nice touch at the 23.6 fib area before the bearish railroad formation that returned the bears. Pullback for the market correction was necessary as XRPUSD went down to $0.4713 in the support area.
XRP Price is above the two exponential moving averages crossover with the 10 EMA acting as a strong support for the bullish upward movement. The stochastic oscillator is at 65 % and its signal points up which means increased bullish momentum and consequent upward price movement may be the witness. $0.5257 is on the card as the bulls resume the journey north.