Ripple price traded as high as $1.1024 before starting a downside correction versus the US dollar. The XRPUSD pair remains strongly supported on the downside above the $1.00 handle. Here is the 16-20 February Ripple Technical Prediction.
16 February, AtoZForex – Ripple or XRPUSD seems technically bullish after the price crosses the US$ 1.0 handle with high volume. In the last 1 Week the price has moved by $ 0.2116 (23.55%) with a total volume of over XRP $ 1.73 B. The highest price, $ 1.23, was on Saturday, 10 February 2018. The lowest price, $ 0.8704, was on Friday, 09 February 2018. Will Ripple cross the $1.30 mark in coming days?
XRPUSD Weekly chart, source: EthereumPrice.org
16-20 February Ripple Technical Prediction
Financial services company Western Union is experimenting with the Ripple blockchain and corresponding XRP cryptocurrency, according to CEO Hikmet Ersek. The relationship is presumed to boost Ripple’s overall charisma and could help the crypto supplant Bitcoin as the market leader.
Technically, Ripple is bullish in the weekly timeframe. The XRPUSD candlestick pattern charts suggest the Bullish reversal in 1D time-frame. After a long black candlestick at the low end of a downtrend, a white candlestick opens higher or at the previous candlestick’s close and closes at or around its open.
According to Fibonacci retracement charts, the XRPUSD pair is trading below the 23.8% Fibo. retr. level. The price remains stable and trading at rangebound zone from $1.0- 1.11. The point may be considered as buying zone for a lot of traders. Therefore, this zone is considered as a crucial zone for buyers. A break below $0.90 mark could push Ripple back to bearish zone.
On the upside, if the XRPUSD pair breaks the 23.8% Fibo. retr. zone i.e $1.22 mark than it might test $1.60- 1.80 level in coming days. Also, the fundamentals seem quite supportive for Ripple.
The relative strength index(14) in weekly timeframe remains neutral.
The MACD(12,26) value is 0.265 gives buying signal in weekly charts.
Moreover, according to ATR(14), the XRPUSD pair is Highly volatile.
The Ripple has significant weekly support near US$ 0.65 level and resistance at US$ 1.60 level.
Ripple Weekly Pivot points
What’s your opinion on the 16-20 February Ripple Technical Prediction? Let us know in the comment section below.