XRP Price Analysis: XRP/USD Expected to Breakout at $0.32

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XRP Price Analysis: XRP/USD Expected to Breakout at $0.32
Key Highlights:

Interview with Ammbr – A Blockchain-Enabled Mesh Network Bringing High Speed Internet to Emerging Economies
Tuesday January 08, 2019

One of the more interesting projects that have come across my desk,  not only in the Blockchain space but also in telecommunications, is Ammbr. This project an effort to ensure much greater inclusivity for the digital world and it aims to bring faster Internet to roughly half the global population who currently suffer bad or

The Pennant pattern confirmed in the XRP market;
in case $0.30 price level does not hold, there will be a bearish break out;
the break out is imminent.

TRON is Garbage? According to Stellar and Ripple co-founder, Jed McCaleb
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Stellar’s CEO and founder, Jed McCaleb has recently referred about TRON (TRX) as “just garbage”. The co-founder of Stellar (XLM), Ripple (XRP) and Mt. Gox is a well-known name in the Cryptocurrency space. He created Stellar after he forked away from Ripple due to personal differences with the Digital Currency’s corporate board. When talking about

XRP/USD Price Medium-term Trend: Ranging
Supply levels: $0.32, $0.34, $0.36
Demand levels: $0.30, $0.28, $0.25The sideways movement of XRP/USD continues on the 4-Hour chart. The ranging movement of XRP price continues within the range of $0.32 supply levels and $0.30 demand level. A fake breakout scenario was noticed at the upper trend line of the pennant formed on the chart.
The bulls pushed up the coin to break up the supply level of $0.32 yesterday 7th of March but could not sustain the momentum. The bears rejected the rising in price of the XRP with the formation of a bearish engulfing candle which returned the coin into the pennant.
The two EMAs are interlocked to each other, remains flat horizontally without direction and the XRP price trading on the 21 periods EMA and 50 periods EMA. Currently, the XRP price is towards the lower trend line of the pennant with weak momentum.
Should the Bears pushed the coin to the lower trend line and the XRP price bounces, there would be a bullish rally and breakout at the upper trend line and the supply level of $0.32. In case the bears prevail over the bulls at the lower trend line, then, the breakout through the lower trend line and $0.30 support level is possible.
Meanwhile, the MACD period 12 is sliding below the zero levels and the signal lines pointing down which indicates sell signal.
XRP/USD Price Short-term Trend: Ranging
On the short-term outlook, XRP/USD continues ranging movement. The XRP price remains within the pennant formed, though fake breakout caused by the bulls was noticed. The Bears opposed the breakout and the XRP is currently rolling down towards the lower trend line. The breakout is actually imminent which could be at the upper trend line or lower trend line of the pennant, this depends on the Bulls and the Bears momentum.
There is a possibility for a bearish breakout in case the bears increase their momentum which will expose the coin to $0.28 demand level. The MACD with its histogram and the signal lines are below the zero levels indicate sell signal.
XRP Price Analysis: XRP/USD Expected to Breakout at $0.32