Market Update

Insights for the Asian Crypto trading session Friday 14/12/18

  • BTC/USD: Upside momentum fades out, $3000 in bears sights

  • XRP/USD: Ripple comes under heavy selling pressure late in the session

  • ETH/USD: Looming constantinople hard fork keeping downward pressure on

  • BCH/USD: Recovery fails to break above $100, bears in control

  • XLM/USD: Stellar about to trade fresh 2018 yearly lows

Ripple Technical Analysis: XRP/USD bears targeting $0.25 cents

  • XRP/USD comes under heavy selling pressure last in overnight session

  • Next major support levels to watch are $0.20-$0.25 cents

XRP/USD  Daily chart:

XRP+target.png

Our forecast:

XRP/USD: At the time of writing Ripple is nursing losses of about 3.5% after a failed topside breakout in the previous session. Upside momentum failed to materialise into anything significant as bears continued to sell into strength. XRP has been confined to a tight range of $0.05 cents over the past week with a large breakout likely to be seen soon, whilst the direction remains unclear the price remains vulnerable to the downside with all indicators flashing red. XRP could come under heavy selling pressure today as Bitcoin heads towards the psychologically important $3,000 level, with the next major levels to watch $0.2950 and then $0.20-$0.25 cents. Ripple remains a sell on strength.

Hourly Technical Analysis Summary: Sell

Moving Averages: Strong Sell

Oscillators: Sell

 Support 1: $0.3042

Support 2: $0.2998

Support 3: $0.2916

Resistance 1: $0.3060

Resistance 2: $0.3147

Resistance 3: $0.3213

Market Update

Insights for the Asian Crypto trading session Friday 7/12/18

  • BTC/USD: Bitcoin critical demand area $3,500-$3,800 tested by bears

  • XRP/USD: Ripple needs to hold $0.32 or risks sell-off towards $0.20 - $0.25 cents

  • ETH/USD: Ethereum slumps, close below $100

  • BCHABC/USD: Bitcoin Cash loses 81% of value in one month

  • XLM/USD: Stellar tumbles lower, retest of 2017 lows in sight

Ripple Technical Analysis: XRP/USD if $0.32 is broken, longs will capitulate

  • XRP/USD bears are testing the recent lows at $0.32 cents

  • Breach of $0.32 will likely see a test of $0.20-$0.25 cent area

  • Should Ripple market cap be $4 billion higher than Ethereum? Or is XRP/USD mispriced?

XRP/USD  Daily chart

dec 7.png

Our forecast:

XRP/USD: Daily price has broken lower from the recent support zone around $0.35-$0.37 cents formed after the explosive rally towards $0.80 cents in mid September. XRP/USD price action via the 60-minute chart view can be seen moving within a bearish descending channel pattern and now challenging the $0.32 cent breakdown level. In our view should this support level be broken there should be a quick move lower towards the $0.20-$0.25 cent level as bulls capitulate. Only a break back above $0.37-$0.38 cent resistance will negate the immediate risk to the downside.

Daily Technical Analysis Summary: Strong Sell

Moving Averages: Strong Sell

Oscillators: Sell

Support 1:                 $0.3250

Support 2:                $0.3050

Resistance 1:             $0.3450

Resistance 2:            $0.3600