Technical Analysis for XRPUSD for 13th September 2022
Ripple Buyers Upbeat, XRP Bullish Above $0.34
Past Performance of XRP
Despite the rough tides, XRP prices are resilient, rising with improving market conditions across the board. At press time, the coin is steady on the last trading day but up six percent week-to-date. Overall, traders are buoyant, expecting the coin's fundamentals to shape the short to medium-term price trajectory.
Ripple Technical Analysis
At press time, XRP is bullish but within a broader $0.10 zone with caps at $0.40 and $0.30. Technically, the path of least resistance is southwards; buyers need to muster the strength and overcome $0.40 for buy trend continuation. Even so, swing traders may align their positions with the emerging trend in smaller time frames. Notably, prices are breaking higher, trading above the middle BB and confirming the gains of September 7. As long as prices are above the middle BB and $0.34, traders can load on dips, targeting $0.40—the upper resistance level marking August 2022 highs.
What to Expect from XRP
Buyers are confident, but the uptrend's momentum is not strong. From the XRP candlestick arrangement in the daily chart, buyers have the upper hand. However, this preview holds only if prices are held above $0.34.
Resistance level to watch: $0.40
Support level to watch: $0.34
Disclaimer: Opinions expressed are not investment advice. Do your research.
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