Ripple (XPR) Bullish Momentum Continues

October 14, 2019 10:16 PM UTC

XRP has been in a strong daily uptrend since the crash 3 weeks ago. The bulls have now been able to set yet another leg up with a 5% increase in price over the last 24 hours. The bulls are comfortably trading above both EMAs which have crossed bullish.

The RSI is getting close to overextended as the bulls are facing the psychological $0.30 resistance, however, they aren’t facing any other resistance until $0.327.

The 4-hour chart is clearly in favor of the bulls which are looking to break out from a bull flag, however, the RSI is extended. We could see Ripple consolidate for the next few days as most timeframes are showing overextended RSI levels.

The weekly looks really strong, the bulls have a real chance of breaking above the last high of $0.327 as they are trading above the 12-period EMA. The next weekly resistance lies at $0.31 where the 26-period EMA is set. The RSI is not overextended here and the volume is decent for the bulls.

Unfortunately, the monthly chart hasn’t changed much, even if the bulls are able to break the high on the weekly chart, the monthly chart would still be in a downtrend as the high of this chart remains all the way up at $0.51

 

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