XRP Daily Price Signals: October 18

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 4-hour chart
XRP 4-hour chart

 

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.

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Azeez Mustapha
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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