Ripple Climbing Higher may Head towards 0.45 Price area as the non-volatile pressure continues. Certain correction may occur as it shoots higher. Let’s check Ripple Technical Analysis for more levels and insights.
February 14, 2020 | AtoZMarkets.com – Ripple has recently managed to regain Bullish momentum after bounce from 0.1650 price area. The price is sustaining consistent Bullish pressure since the bounce and currently residing above 0.30 area.
Ripple Climbing Higher is an indication of Ripple buyers taking interest. As World Equity market struggles to maintain sustainable momentum, Investors are diverting their funds to Commodities and Cryptos. Moreover, as per recent reports, XRP taking one step further to make it more available to users made the market sentiment to favor the Bullish pressure.
Recently, one of the oldest and most user friendly Crypto wallet company BRD have announced parternship with Ripple. As of this partnership, XRP can be bought directly from the BRD Wallets with cheaper rates than other alternatives. Moreover, BRD provided a nod to Ripple’s SDK which will allow Ripple to be widely used in variety of projects. So, as the useablity increase, Ripple may see further upside pressure in the coming days.
Ripple Breaking above $0.30 Milestone may Attract More Buyers
Ripple having strong Fundamental as well as stable Technical formation may head higher towards 0.45 area. The price has been quite consistent with the recent Bullish momentum which formed Round Bottom near 0.1650 area.
image: Ripple Daily Chart
According to daily chart, Ripple is currently residing above 0.30 area but the price is currently indecisive. As the Ripple broke above 0.20 while bouncing from 0.1650 area, it broke above the long-term trend line resistance. Moreover, on the On Balance Volume indicator, certain spike higher is observed which also broke the Volume trend line along the way. The volume spike is quite impressive and indicating upward pressure in the making.
Ripple Climbing Higher may Retrace before Touching 0.45
On the MACD side, there is no indication of Bearish Divergence in the making but as Histograms did not create any higher high, certain correction may occur. Though the price is residing currently at 0.3170 area, certain retrace towards 0.30 may occur. As a result, certain retest from 0.30 may empower Bulls to push higher again with more strength leading Ripple Climbing Higher towards 0.4550 area. But before reaching 0.4550 area, price may show volatility and pause around 0.3550 area along the way higher.
To conclude, Ripple Climbing Higher having Strong Bullish Bias may correct above 0.30 area. As the price remains above 0.30 with a daily close, it may head higher towards 0.4550 area in the coming days.