Ripple’s XRP is still the world’s third-largest cryptocurrency by market capitalization, and it’s still trading above the USD 0.40 psychological level that evaded it for most of 2018. It’s gained 3.88% in the last 24 hours and 4.56% in the previous week. So it’s not doing as well as Bitcoin, Ethereum or Litecoin but it remains robust and competitive with everybody else. So how is XRP looking for the next 24 hours?
24-hour analysis
XRP trades at USD 0.43281 as we write this. It’s been rising in value for about 18 hours, and it keeps going up.
The daily analysis says that it’s all great. Every moving average is signaling for the bulls, and only one technical indicator is for the bears. The price is above the pivot point but with enough room beneath the first resistance level so that it can keep growing in value for quite some time without any worries.
Most importantly, the trading volumes we’ve seen over the last 60 minutes are all high and green, which is the most important signal for the bulls in any market.
The only problem is that the Bollinger bands are narrowing down which could mean that XRP is becoming stable, which is a good thing for holders but not for investors because it could mean it will start to trade sideways. Once it goes sideways, it could remain there for days, even weeks or months. And the thing about profits is that they need a little volatility to happen.
Monthly analysis
The monthly scenario is neutral.
All the moving averages are for buying. All the technical indicators are for selling. Sounds familiar?
The good news is that the price is above the pivot monthly point and way under the first resistance level, which gives XRP a lot of room to grow. And the chances are that it will increase in value indeed. But the question is when?
It’s stagnating right now. The trend is green but very slow so it could take a long time for it to really pick up in a way that’s worth it for you to invest in it.
We all know that XRP is solid. But it’s not today’s choice. If you’re trading on margins and you’re waiting for XRP to do something, then just forget about it. See what happens tomorrow as the second day after the weekend comes in and the week picks up. XRP usually does better on weekdays.
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 (TronWeekly.com) holds any responsibility for your financial loss.
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