18 April Ripple Technical Prediction – XRPUSD Forecast

Ripple price is preparing for the next upward pull against the USD as the XRPUSD pair trying to surpass the daily strong resistance level near $ 0.69 levels. Here is the 18 April Ripple Technical Prediction.

18 April, AtoZMarkets – The Ripple or XRPUSD pair has been trading in the range bound zone near $0.66- 0.69 zones since the past few days. The third largest cryptocurrency after Bitcoin & Ethereum now has a total market cap of around $ 25 Billion and trending higher after the bullish move in the overall crypto-market. Also, the XRPUSD pair experienced a drastic increase in trading volume (24-hour – $ 44.52 Mover the last few days.

Moreover, In the last 1 week, the price surged by US$ 0.1883 (38.59%) with a total volume of over $ 571.12 Million. The weekly highest price, $ 0.7077, was on Friday. 

18 April Ripple Technical Prediction

According to the charts, a Three Outside Up candlestick pattern has emerged in the 1W timeframe with high reliability, signaling the bullish reversal for the XRPUSD pair. This pattern is a more reliable addition to the standard Engulfing pattern. A bullish Engulfing pattern occurs in the first two candles. The third candlestick is confirmation of the bullish trend reversal.

Moreover, The 100 SMA is still above the longer-term 200 SMA to signal that the path of least resistance is to the upside. Also, the narrowing gap between the moving averages suggests the XRPUSD also suggests a bullish trend for the daily & weekly timeframe.

According to Fibonacci retracement charts, the XRPUSD pair is trading well above the golden ratio zone above 61.8% fibo. retr. zone and consolidating at a range. Yesterday, the price Ripple price traded near the strong resistance near $0.67- 0.69 level but failed to break above from this point. However, a decorous break above the $0.6900 resistance is needed for further gains. On the upside, if the XRPUSD pair breaks the daily strong resistance level, i.e., $0.69 level than a substantial upward move towards $0.74 level could be seen.

The relative strength index(14) value is above 50 in daily timeframe signals – “Buy.”  

The STOCHRSI(14) value is above 80 – “Overbought” in daily timeframe.  

Moreover, according to ATR(14), the XRPUSD pair is Highly volatile.

The Ripple has significant daily support near US$ 0.65 level and resistance near US$ 0.67 level.

XRPUSD Daily Pivot Points

NameS3S2S1Pivot PointsR1R2R3

Market Factors

  • IMF Chief Calls For Cryptocurrency Regulation: The New York Attorney General Eric Schneiderman’s office has written a letter addressed to 13 cryptocurrency exchanges. In a statement, he said: “With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money.”

What do you think of the 18 April Ripple Technical Prediction? Let us know in the comment box below.

    Share Your Opinion, Write a Comment