Although from the fundamental level there was no news that really was the reason, Ripple decided to excel among the other Altcoins generating important benefits for short-term trading (scalping).
- The XRP breaks strongly after the crossing of moving averages
- There was a profit taking in the $ 0.34
- After the pullback the price is trying to go up
Analyzing the XRP/USD chart, we can observe the pullback movement that the XRP had. At this time the bulls are struggling to keep the XRP above the $ 0.30 support without a bearish cross.
The RSI (relative strength index) remains above 50% while the purchase volume continues to be important, this indicates that there is a strong likelihood of a new upward movement by XRP.
We can use the Donchian channel to measure the strength of the market, although in an easier way the market volume will indicate if we can increase the target of the operation in case the XRP has a bullish rally.
- Moving Averages EMA 9/26
- RSI (relative strength index) 43%
- Support $ 0.30
- Resistance $ 0.35