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Bitcoin Exchange Guide Coins Ripple (XRP) Price Analysis (February 10) By Ben Jord

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Ripple (XRP) Price Analysis (February 10)
By Ben Jordan- February 10, 2020
XRP Price Over the Weekend: Where Will Ripple's Prized Coin Go From Here?
Key Highlights

XRP market valuation had been on an increase to outweigh the US dollar price worth.
XRP/USD pair has the potential ability to build up the energy between the $0.28 and $0.26 price levels.
The XRP/USD market bears may lack sustainability at any possible breakdown move of $0.26 mark.
Major resistance levels: $0.30, $0.32, $0.34

Major support levels: $0.24, $0.22, $0.20

Ripple (XRP) Price Analysis
The market value of XRP had been an increase to outweigh the US dollar price until early trading sessions on February 5. Since then, the pair has been chopping around $0.28 mark until the present.

The crypto trade has the potential ability to build up the energy between the $0.28 and $0.26 price levels. That may only be in the womb of time before seeing another round of variant rises in the XRP/USD market activities.

Ripple Technical Indicators Reading
The 14-day SMA trend-line has over the time been on top of the 50-day SMA indicator. Meanwhile, the smaller SMA indicator now maintains a perfect flat posture tightly to the $0.28 price line.

Price has been trading around a small space between the two SMA trading indicators. The Stochastic Oscillators have crossed downward in an attempt to make a reversal cross a bit above range 20. That calls for a caution against the backdrop of seeing the XRP/USD trade value declining more.

Conclusion

Indications now have had it that the XRP/USD market operations will still undergo more price range movements. The bears have seemingly appeared unable to push the market line southwards past the 50-day SMA. In the meantime, the $0.30 mark remains major resistance level of the XRP/USD market bulls.

 

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Ben Jordan
Ben Jordan
Ben 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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