Ripple's XRP: Cluster of supports to look forward to
05/16/2019, 04:55:06
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XRP, whose payment solutions company Ripple that plans to streamline and revolutionise the global cross border payments, has found itself staring at a

  • XRP retraces from strong resistance, 200 DMA and EMAs.
  • Enough support in the form of 21, 50 and 100 MAs.
  • XRP retraces from strong resistance, 200 DMA and EMAs.
  • Enough support in the form of 21, 50 and 100 MAs.
  • XRP, whose payment solutions company Ripple that plans to streamline and revolutionise the global cross border payments, has found itself staring at a stiff resistance of long term moving averages, crossing of which is a must if XRP has to move northward in a bull market.

    Ripple

    XRP/USD is up more than 2 percent on day at $0.3334, retracing from its day's high gradually. On the daily chart of this ambitious third largest crypto, it has clawed back its gains after hitting high of $0.380 last week, exactly where XRP's 200 Days Moving Average is placed and slightly above 200 days EMA too.

    While these two big moving averages are a must to sustain a bull market rally, there is enough cluster of supports placed in the form of shorter term moving averages - 21, 50, 100 DMAs, in the range of $0.32 to $0.3305. These should be enough to breathe some life and energy into the exhausted and lost bulls.

    XRP/USD daily chart:

    XRP/USD daily chart:XRP/USD daily chart:

     


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