In the last few days, the Ripple price has risen by over 80 percent. Thus, the XRP price reached the heights of the July plateau again – but there are also important resistances.
Crypto can still do it: A rally drove the Ripple price from 0.27 US dollars to 0.50 US dollars within three days. That is a price jump of over 80 percent. There is already a detailed commentary on the reasons. The main reason is Ripple’s statement that xRapid should start much earlier than expected. The product xRapid, which is intended to facilitate payment transactions between banks, requires Ripple’s own crypto currency XRP.
How does the Bitcoin evolution look from a chart technical point of view? In short: quite good
The Ripple price was able to climb back to the level it had in July like this: https://www.forexaktuell.com/en/bitcoin-evolution-scam/. A double bottom developed with the minima of August 14 and September 14. The bullish divergence between the Bitcoin evolution price and the MACD or RSI confirmed this development.
The MACD is currently positive and rising. The RSI is in the overbought territory, so a slight consolidation is to be expected. Nevertheless, the assessment is bullish overall. Currently, therefore, a long position with an entry at 0.48 US dollars and a tight stop loss at the level of the plateau in July, thus approximately at 0.45 US dollars, is recommended. One target is the EMA200, currently at 0.50 US dollars, the other is the resistance at 0.56 US dollars. If the price falls below the stop loss, one should not switch too quickly to a short position, but follow how the news situation develops, whether there is negative news about the xRapid announcement. It is also worth waiting for bearish signals from MACD and RSI in order to use the two supports as targets.
Ripple course to the moon? Not as fast as the Bitcoin evolution
Is XRP already ready for the lunar journey? XRP-Permabulls are looking forward to a fabulous 589 US dollars per XRP. Read more about it here: https://www.geldplus.net/en/bitcoin-evolution-review/ A few months ago we analyzed whether 100 US dollars are likely and even friends of the Bitcoin evolution are critical of this bold forecast.
Apart from that, as already pointed out, the MACD is positive, but the RSI is overbought. The price also hit the EMA200 on September 20th and bounced off it. Currently, the EMA200 is roughly at the level of the often discussed MA20 in the weekly chart:
As in the case of Bitcoin, speaking of a bull market only makes sense after a sustained rise above the MA20. As always, you shouldn’t go into the market with excessive expectations, but instead take prudent chances, aim for targets and don’t forget the stop losses in all euphoria.