Ripple (XRP) Price Analysis (April 29)


Key Highlights

• XRP/USD market is seeing relative increases in valuation presently.
• There is a gradual loss in the US dollar’s price worth.
• Expectantly, the bulls will still be in control of XRP/USD trade to some extent.

Ripple (XRP) Price Analysis

• Major supply zones: $0.24, $0.26, $0.28
• Major demand zones: $0.18, $0.16, $0.14

XRP’s market worth has relatively continued to muster energy on a spike that occurred during yesterday’s trading sessions. The pair is now facing a strong point at a supply zone of $0.22 mark. But, then, the crypto hasn’t lost out in its attempt to pushing northward further.

The US dollar now appears not having the weight-value against the crypto’s market price currently. The pathway of the crypto-market to the north nurtures after a move past a recent upper range trading line.

Ripple Technical Indicators Reading

The 50-day SMA trend-line is below the Middle Bollinger Band. And, they both point towards the north-east direction. Price is trading along with the Upper Bollinger Band’s trend-line towards the north around a supply zone at $.22 line. The Stochastic Oscillators have penetrated the overbought region. And, they now consolidate within it closer to range 80. That’s a sign that the crypto-market may soon witness a line of other range price movements in the near time.

Conclusion

As the crypto-fiat pair, seemingly now entering another round of consolidation price movements, the buyers expect to intensify efforts in pushing further to the north. A witness of falling pressure is most likely unrealistic, very soon presently in this market trading outlook.

 

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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