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#Daily Price Analysis

XRP to reach $1 again? Ripple Price Analysis 20 Sep

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Ripple price is exchanging with a bullish predisposition. XRP/USD needs to increase above $0.3350 for a push towards the $0.3500 level.

Ripple Price Key Features

  • Ripple price flooded higher as of late and broke the $0.3200 resistance level against the US dollar.
  • There is a noteworthy contracting triangle set up with resistance at $0.3300 on the hourly diagram of the XRP/USD pair (information source from Kraken).
  • The pair could rectify a couple of focuses, however it stays supported over the $0.3100 level.

Ripple price is exchanging with a bullish predisposition against the US Dollar and Bitcoin. XRP/USD needs to increase above $0.3350 for a push towards the $0.3500 level.

 

Ripple Price Rise

Recently, we saw a strong transcend the $0.3000 level in Ripple price against the US Dollar. The XRP/USD pair stayed in a strong pattern and broke the $0.3200 and $0.3250 levels. It exchanged towards the $0.3350 level and later adjusted lower. It moved underneath the 23.6% lie retracement level of the upward move from the $0.2658 low to $0.3358 high.

In any case, XRP price found a solid support around the $0.3100 level and bobbed back. It appears as though there is a noteworthy contracting triangle set up with resistance at $0.3300 on the hourly graph of the XRP/USD pair. Quite possibly Ripple price could plunge a couple of focuses towards $0.3150 or $0.3100. Underneath these, XRP price may test the $0.3000 support zone. It speaks to the half lie retracement level of the upward move from the $0.2658 low to $0.3358 high. For whatever length of time that the price is over the $0.3000 support, it stays well offered for more gains in the close term.

XRPUSD Price Chart 20 September

XRPUSD Price Chart 20 September

 

Taking a gander at the diagram, ripple price could keep on trading in a range above $0.3000. At long last, it will in all probability make an endeavor to outperform the $0.3350 and $0.3400 resistance levels. The following significant obstacle for purchasers is close to the $0.3500 level.

Taking a gander at the technical markers:

Hourly MACD – The MACD for XRP/USD is going to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is presently over the 50 level.

Significant Support Level – $0.3150

Significant Resistance Level – $0.3300

#Daily Price Analysis

XMR Daily Trading Signals: 24 October

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Dominant bias for MONERO (XMR)- Ranging

Resistance Levels- $114.00, $116.00, $118.00

Support Levels- $104.00, $102.00, $100.00

 

XMR is in a range-bound market. The bears lost momentum at 106.24 in the support area on 22nd October. The bulls’ gradual return was signaled with a bullish engulfing candle that broke the 34 EMA and XMRUSD was up at 107.98 in the support area. Increased bullish momentum saw XMRUSD at 112.85 in the resistance area on 23rd on October. but closes with a wick which implies the bear are gradually back within the range

 

XMR 4-hour chart

XMR 4-hour chart

 

XMR Price is above the 34 EMA and the relative strength index is at 66% but it signal points down which implies downward movement within the range may occur.

XMR is in consolidation and trading between $112.42 in the upper resistance area and at $105.14 in the lower support area of the range. Traders are advised to be patient at this critical period for a breakout at the upper resistance area or a breakdown at the lower support area before taking a position.

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#Cardano Price Analysis

ADA Daily Trading Signals: 24 October

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Dominant bias for CARDANO (ADA)- Bearish

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Levels- $0.07000, $0.06800. $0.06600

 

ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south.

 

ADA 4-hour chart

ADA 4-hour chart

 

Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down it implies downward price movement of the cryptocurrency may be inevitable.

The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target

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#Daily Price Analysis

XRP Daily Trading Signals: 24 October

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Dominant bias for XRP- Ranging

Resistance Levels- 0.6000 $0.6500, $0.7000

Support Levels- $0.3500, $0.3000. $0.2500

 

XRP continues in a range-bound market. The bears successfully took control of the market after the formation of a bearish railroad at $4617. XRP was initial down to $4567 and later to $4444 in the support area. Attempts to continue the downward journey within the range was rejected as a doji was formed, a good signal for reversal. The bulls did return and took XRP to $4853 in the resistance area.

 

XRP 4-hour chart

XRP 4-hour chart

 

The morning star formation was confirmation for the bullish takeover within the range. The price rose $0.48534 in the resistance area.

Price is above the two EMAs and the stochastic oscillator at 45% and its signal points up. This implies upward price movement within the range due to the bullish increased momentum.

XRP is in consolidation and trading between $0.4819 in the upper resistance area and at $0.4425 in the lower support area of the range. Traders should be patient at this period and allow a breakout at the upper resistance area or breakdown at the lower support area before taking a position with good reversal candlestick pattern that confirms the direction.

 

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