Dominant bias for RIPPLE (XRP) – Bullish
Resistance Levels- 0.6000 $0.6500, $0.7000
Support Level-$0.3500, $0.3000. $0.2500
Ripple’s journey to the south seems terminated as the bulls stage a comeback at $0.4475 in the support area with the bullish railroad. XRPUSD was up to $0.4481 in the resistance area on 16th October before the bears had a brief. The low bearish momentum was a pullback to $0.4832 in the support area. The pullback was necessary for the market correction before uptrend continuation.
XRP Price is above the two exponential moving averages crossover with the 200 EMA acting as a strong support for the bullish upward movement. The stochastic oscillator is at 59% and its signal points up which suggest upward movement in price.
In the context of the uptrend, the pullback occurred at 50 .0 fib level a trend reversal zone on 15th October, hence the bullish pressure was strong at the area to push XRPUSD back up in the resistance area.
As more candles open and closed above the exponential moving averages crossover, XRPUSD may retest $0.5000 at the resistance area, while a close above it will signify the commencement of its journey to the moon.