|$XRP Price Change|
We will be adding a couple trading pairs with XRP as the quote currency shortly.
And rename ETH markets to ALTS market. Running out of space on the UI.
— CZ Binance (@cz_binance) December 24, 2018
The Ripple weekly trend is up. The weekly trend began December 15 2018 launching from a quarterly $XRP low of $0.28050.
Ripple $XRP is in an upward trending channel with higher highs and higher lows. On November 05 $XRP peaked at .56878 and while this may be higher than we’ll reach, that is the direction $XRP is headed today.
In the week of August 12 2018 $XRP bottomed out at $0.24672.
[Trend is "up" when the weekly price movement is predominantly upwards.]
Real Time Market Depth
[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]
Tap / click to zoom:
We see the price of bitcoin up 1.82% or $71.46 in twenty-four hours and this will exert an upwards influence on Ripple.
More market good news is the introduction by Binance of two XRP quote pairs: $TRX/XRP and $XZC/XRP. One pair has been well received by traders with $XZC up a whopping 30.4% overnight. The $TRX pair not so much, as it is down slightly 0.10%.
On main street finance the news is gloomy with PBS.org reporting “The major indexes on Wall Street fell another 2 percent Monday, making it very possible that the market will end this month as the worst December for stocks since 1931.”
While not so good for fiat, the probable affect on bitcoin, and crypto in general, and $XRP in particular as the second ranked crypto, is favorable as investors leaving fiat in disgust may find greener fields in cryptocurrency – which also has bargain prices at the moment and a much brighter long term outlook.
Historically there is little or no correlation between the price of main street stocks, and the price of cryptocurrency, based on analysis of overlaid charts over a five year period. Ancillary spin off effects of a mal performing main steet bode well in general for other alternative investment vehicles, including gold, crypto and other hedge investments.
Moving Average Convergence Divergence (MACD)
The MACD on the four hour chart is bullish. The last six 4 hour sessions have all been bullish. This is while the last three sessions have seen price losses and red candles. The falling price may be temporary as the bigger picture is still upwards.
Exponential Moving Averages (EMA)
The short term EMA(7) has seen some sharp climbs over the last week. Today on the four hour chart we see the angle of declination leveling out, while prices drop. This is a period of consolidation before the next leg up.
Relative Strength Index (RSI)
The Relative Strength Index on the one hour chart is 45.5. This is a neutral state.
Bitcoin $BTC Price Modifier
The 24 hour Bitcoin $BTC change is 1.82%. This may exert a bullish influence on Ripple today.
Ripple $XRP Price Outlook
- the Ripple $XRP price outlook is bullish
- if the price finds acceptance at higher levels the immediate resistance prints at $0.45000
- if the price finds acceptance at lower levels the immediate support prints at $0.36214
Analysis Duration: more than one day
This report is for a short term duration of more than one day. Analysis is time sensitive.
The author holds Ripple $XRP at the time of writing.
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