In this market Ripple has spent much time on the downside. And at a time when price action started peaking up once more hopes of reaching the upside were dashed by a bearish candle. Consequently, this retracted the price of this crypto back to $0.3731.
XRP Forecast Statistics Data:
XRP’s current price: $0.3731
XRP market cap: $18.7 billion
XRP circulating supply:49.4 billion
XRP total supply: 99.99 billion
XRP Coinmarketcap ranking: #7
Generally speaking, we can assume that this market is bearish, and with the current market behavior, Ripple’s value may fall lower. In this analysis, we’ll examine the market behavior, and try to predict where the price may get next. Also, we may come up with some trading moves, which can be made in this kind of market situation.
Important Price Levels:
Upper levels: $0.3721, $0.3750, $0.3721
Lower levels: $0.3731, $0.3725, $0.3718
Ripple Appears not Ready for an Upside Correction, But Tamadoge Will Trend Upwards
On the XRP/USD daily chart, it appears as if the developing uptrend was met with a setback by the appearance of a bearish candlestick. Furthermore, this brought the price back downwards, below the middle line of the Bollinger band. Nevertheless, it looks as if, hopes of continuous upside gain stay on, going by the Stochastic RSI display. The lines of this Indicator have made a cross in the oversold region. Also, they are now moving in the upward direction. Interestly, it appears as if this Indicator remains unaffected by the latest bearish candle, as they stay in pursuit of the overbought area. Consequently, the activity of the SRSI re-ignites the hope of an upward price correction. The uptrend keeps gaining momentum, and the XRP price may retrace upward towards $0.3800.
Ripple Price Analysis: XRP/BTC Stays Bullish
The XRP/BTC chat shows that the activities of the buyer were able to change an impending bearish reversal to a continuous bullish trend. On this chart, the price motion has broken the Bollinger Mid-line resistance. Consequently, at this point, the value of this pair could remain bullish for a significant amount of time.
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Additionally, the Stochastic RSI revealed the activities of the buyers, as they came to the rescue price from trending downwards. On the indicator, we see the lines as they approached each other for a cross. If the cross had occurred value of the pair would have retracted downward to near 0.00001540. That said, going by the SRSI trader can anticipate the value reaching 0.00001580. Therefore, stops can be moved to around 0.00001558, as higher values are targeted.
Tamadoge is also securing strategic listings on centralized and decentralized exchanges as part of its roadmap. The first listing has already been secured on LBank. LBank is a centralized exchange, and the Tamadoge team is optimistic that TAMA could be paired with ETH to support the project’s rapid growth as it faces improved liquidity.
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Source: https://insidebitcoins.com/news/ripple-corrects-downwards-while-tamadoge-is-correcting-upwards