XRP/BTC Analysis: When you should buy Ripple?

XRP/BTC Analysis: When you should buy Ripple?

Trade Signal Trading
April 15, 2019 by Hitesh Malviya
1546
XRP/BTC is dropping since last 4 months, It has broken all important supports lately and now trading below 50,100 and 200 Daily MA. In this article, we will cover important levels where we think- XRP/BTC should find support. Technical Analysis The daily chart is super bearish at this moment, RSI is oversold, MACD is bearish,
XRP/BTC analysis Buy ripple

XRP/BTC is dropping since last 4 months, It has broken all important supports lately and now trading below 50,100 and 200 Daily MA. In this article, we will cover important levels where we think- XRP/BTC should find support.

Technical Analysis

XRP/BTC Daily (Bittrex)
XRP/BTC Weekly (Bittrex)
  • The daily chart is super bearish at this moment, RSI is oversold, MACD is bearish, and the price is trading below 50,100 and 200 MA.
  • In the daily chart, we can see, The key support where the price bounced from last impulsive bearish wave is at 0.000041 BTC, Immediate Key support from where price bounced last time is at 0.000061BTC
  • Weekly chart is bearish as well, price is trading below 21,55 and 100 weekly MA.

Key Support levels to watch out for

There are three support level to watch out for possible bounce.

  • 0.000061 BTC
  • 0.000055 BTC
  • 0.000041 BTC

As of now, we are approaching first key support area, if the price bounce from here, then a potential descending triangle would be formed, Breaking out from that triangle could open possibility for a bullish wave to 0.00012 BTC

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Must Read – Mid term Trade Idea: POA/BTC

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