18 July XRPUSD Price Technical Analysis: Ripple spikes above $0.52

XRPUSD is trading at $0.4567 to press time, off the intraday high registered at $0.5248. Is this an indication that the time for correction is ripe? What is explained in the following 18 July XRPUSD Price Technical Analysis?

18 July, GKFX – The coin has gained 7.8% on a daily basis and 1.8% since the beginning of Wednesday. Ripple price is moving in sync with Bitcoin and other cryptocurrencies, which have been experiencing steady growth since the beginning of the week. XRP’s market value is registered at $19.8 with the average daily trading volume $329M. 

18 July XRPUSD Price Technical Analysis

From the technical point of view, XRP/USD broke a critical $0.5100 resistance area, which increased the momentum and pushed the coin higher. 50-DMA, currently at $0.5290 cap further upside. It is cleared, the recovery may be extended towards 78.6% Fibo retracement at $0.5600. Now critical $0.50.

On the downside, the local support is produced by $0.50, followed by 200-SMA (4-hour chart) at $0.4821. The overall trend remains positive as long as the price stays above this area. A sustainable movement lower will open the way to critical $0.4500.

XRPUSD, the daily chart


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