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Ripple price shows a bullish divergence

 


Ripple price shows bullish divergence in RSI. Is Ripple Price Forming A Bullish Candle Pattern On BTC Chart This Month?


A bullish divergence is emerging on the daily chart

Ripple price is showing a bullish divergence on the RSI on the daily chart. The bullish divergence formed after Ripple price hit the support around $0.3. Should XRP be able to bounce now, it will already find horizontal resistance between USD 0.4 – 0.46, but only around USD 0.53 significant Fibonacci resistance.


The MACD is bullish on the daily chart as the histogram is ticking bullishly higher and the MACD lines are bullishly crossing.


Will Ripple price rise to $0.53?

If the XRP price now rises to around USD 0.53, it will not only hit the 0.382 Fib level there, but also the 50-month EMA. However, in the monthly chart, the MACD is still clearly bearish as the histogram is ticking bearish lower and the MACD lines remain bearish crossed.


On the downside, horizontal support is waiting for the Ripple price between USD 0.25 and USD 0.3. If Ripple breaks this support bearishly, Ripple will only find significant support again between USD 0.11 – 0.17.


Ripple price is down around 21% since the bearish breakout

Since the XRP price broke out of the symmetrical triangle in a bearish manner, it has fallen by around 21%. To reach the lower border of the last support, the XRP price could fall even another 64%.


In the short term, however, it looks like there will be an upward movement. The histogram of the MACDs is also ticking bullishly higher in the weekly chart, only the MACD lines are still crossed bearishly.


The RSI is gradually reaching oversold regions and XRP is finding the 200-week and 50-week EMA at the Fib resistances around USD 0.53 and USD 0.68, which act as additional resistances.


For Ripple's trend to become bullish again, Ripple would have to bullishly break the golden ratio at around $2.1. Barring the golden ratio breaking at $2.1, the trend remains bearish.


Bullish engulfing candlestick pattern on BTC chart?


Ripple price chart by Tradingview

Against BTC, the MACD histogram is ticking bullishly higher and the MACD lines are also crossed bullishly. If XRP closes above 0.00001555 BTC this month, it would create a bullish engulfing candle, a bullish candlestick formation that could see XRP subsequently rally to the 0.382 Fib level around 0.000023 BTC.


Slightly higher, around 0.000029 BTC, XRP price is facing significant resistance at the golden ratio and the 50-month EMA.


On the downside, between 0.0000044 – 0.0000062 BTC support is waiting for the Ripple course.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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