Analysis

XRP Price Analysis April 15

Ripple Holds on to $0.60 Levels

Ripple’s XRP price slipped 0.53% on Saturday, following Friday’s 0.3% fall, to end the day at $0.63895.

A second consecutive day of declines was of little concern however, with Ripple XRP’s moves, following last week’s rally, more of a consolidation than a correction.

A morning $0.676 high came up short of the day’s first major resistance level of $0.6932, with a post high sell-off seeing Ripple’s XRP pull back to a day low $0.62157 before recovering to just shy of $0.64, the day’s first major support level left untested, with buyer appetite at around the 38.2% FIB Retracement Level of $0.6111 providing the necessary support to avoid a pullback to sub-$0.60 levels.

At the time of writing, Ripple’s XRP was 2.67% to $0.65592, with Ripple’s XRP moving from a start of the day $0.63746 low through to a morning high $0.66716, breaking out from the 23.6% FIB Retracement Level of $0.6475 to test the day’s first major resistance level of $0.6694.

See also: XRP Live Informations

For the day ahead, with the day’s major support levels untested early, the bullish sentiment across the cryptomarket in the early part of the day will support a run at the day’s 2nd resistance level of $0.6999 and Friday’s $0.70626 high.

A failure to move through to Saturday’s $0.676 high could see a pullback later in the day, though barring a broad market sell-off, Ripple’s XRP should find plenty of support at the 23.6% FIB Retracement level of $0.6475, with the bullish trend formed at 6th April’s swing lo $0.45716 intact.

XRP/USD 15/04/18 Hourly Chart

 

Fxempire

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