News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • EUR/USD looking to close out the week above the key 1.16 level, now trading at 1.1603 $EURUSD https://t.co/1e9bQlNK8y
  • Free Bird was on the radio when I was getting my lunch. That is my 'an angle gets its wings' moment for the fall
  • Three Democrats urge House to pause overseas tax hike - Politico via BBG
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.22% Silver: -0.85% Gold: -1.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OvO7iACS4m
  • Chinese growth projections for 2022 and 2023 have been revised marginally lower in the recent International Monetary Fund (IMF) Economic Outlook. Get your market update from @CVecchioFX here:https://t.co/0fFdyeyJ5s https://t.co/eT3HDguQk6
  • Well that was quite clean #Gold #XAUUSD https://t.co/RunzG8NAuN
  • RT @KThomasDC: "To be honest with you, we’re probably not going to get $3.5 trillion this year," Biden says in Hartford. "We’re going to ge…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.66%, while traders in GBP/JPY are at opposite extremes with 78.83%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dAdWy7ADgZ
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.04% US 500: 0.72% France 40: 0.09% FTSE 100: 0.04% Germany 30: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/4jb65JZPjJ
  • We are now within 5% of record highs for Bitcoin on a 7.7% rally for the day thus far...
Ripple (XRP) Price Analysis: XRP/USD May Re-Test 2019 High

Ripple (XRP) Price Analysis: XRP/USD May Re-Test 2019 High

Nick Cawley, Strategist

Ripple (XRPUSD) Price, News and Analysis:

  • Ripple looking to break a series of lower highs.
  • 200-day moving average now adding support.

Introduction to Bitcoin – Essential Knowledge for Bitcoin Traders

Ripple (XRP) Chart Turning Positive After Recent Rally

The technical set-up for Ripple continues to look more positive with the daily chart showing a few positives for the short- to medium-term. Looking at the moving averages, Ripple is now using the 20-day ma as support since early January this year, while last Tuesday’s decisive break and close the 200-day ma added extra credence to the recent rally. Ripple has no traded above the long-term moving average since mid-July 2019 and suggests that positive momentum continues to flow towards the coin. A series of short-term higher lows and higher highs off the mid-December low is another positive sign.

If Ripple is to re-test the mid-June high at $0.508, it needs to break and close above the November 19 high at $0.315 to invalidate the medium-term series of lower highs that started in mid-June. A break and close above $0.326 would confirm this move. Support is seen between $0.2475 and $0.2565 and a clear break below these levels would make the short-term outlook cloudy. Ripple has just moved out of overbought territory.

Ripple (XRPUSD) Daily Price Chart (December 2018 – February 10, 2020)

Ripple XRPUSD price chart

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on Ripple (XRPUSD) – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES