If the bulls can push the price above the moving averages, a rally to the top of the range at $196.483 is possible.
If this zone breaks down, the decline can extend to $122.XRP/USD. XRP again bounced off the 20-day EMA on Oct. 20 but the bulls failed to sustain the price above $0.29227.
If the bulls can sustain the price above the 20-day EMA, it can move up to the overhead resistance at $241.85.
If the bulls can push the price above the neckline, a move to $360 is likely.
We will wait for the price to close above the 50-day SMA before proposing a trade in it.
Conversely, if the next dip holds above $16.50, the bulls will again attempt to push the price above the descending chanel.
If the price sustains above $107, it can gradually move up to $188.69 in the medium-term.
As the risk to reward ratio is attractive, we will suggest a long position after the price sustains above $107. The 20-day EMA has flattened out and the RSI has risen into positive territory, which suggests that the selling pressure has reduced.
If the price jumps up from the current levels and rises above $0.066628, it could reach the downtrend line, which will act as a stiff resistance.
If the momentum can push the price above the downtrend line, a rally to $0.088708 is possible.
Price Analysis 21/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX
Publicado en Oct 21, 2019
by Cointele | Publicado en Coinage
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