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 M) over 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
- 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.”
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