10 February Ripple Price Technical Analysis: XRPUSD Forecast
Ripple, or XRPUSD – the third-largest Cryptocurrency after Bitcoin and Ethereum successfully breaks the $0.72 – 0.77 consolidation zone and traded above $0.90 in Bitfinex exchange. Here is the 10 February Ripple Price Technical Analysis.
CoinCrump – The Ripple or XRPUSD is trading near $0.90 after a sharp decline due to government regulations on cryptocurrency worldwide and “panic selling.” The digital currency made for international transfers trading near the resistance level, up about 60% from its low of $0.56 hit less than a week ago. Also, the price surged more than 20% on Friday. Although, the XRPUSD is still 250% away from its highs on the 1st January at around $3.40. But, the sharp correction and investors sentiment signifies that the Ripple has the potential to outperform in the near future. Will the Ripple price surge above $1 this week?
10 February Ripple Price Technical Analysis
The Ripple price successfully crossed the major hurdle at $0.72 – $0.77 on Friday trading session. The XRPUSD traded at the range bound zone since the past two days, but the upside move confirms the bullish trend to continue in future. Thus, the upward trend confirms the buyers overweight the market. Technically, the Ripple will cross the $1 mark in the coming week.
According to Fibonacci retracement chart, the Ripple (XRPUSD) is trading above 78% Fibo Retr. level which confirms the continuation of the upward trend. If the Ripple breaks the $1 mark in few days then a new level will be formed and the price may tough $1.3 – 1.4 level in a week or two.
Ripple Managing Director Danny Aranda said:
“We actually look at the volatility as, personally, a good thing. Volatility brings an interest. For traders, volatility can mean a lot of profit.”
Additionally, the Ripple community have long-term and intended to be here for another 50 years. Ripple has plenty of positive about financial institutions testing the technology.
Also, Oliver Isaacs, blockchain investor, influencer, and advisor commented:
“Longs are far outnumbering shorts and recent announcements with Moneygram, Japanese credit card companies and Chinese payment provider LianLian are all positive directions for Ripple, I remain very bullish in the long-run and the recent market volatility has not changed my thoughts.”
- The Average true range value for the last 14 days signify the XRPUSD is Less Volatile.
- The Williams Percent Range momentum indicator measures the Selling signal.
- RSI(14) value is below 50%, signals SELL.
- The Bull/Bear Power(13) suggests SELL.
XRPUSD Daily Pivot Points
Ripple price has significant daily support level near $0.72 and resistance near $0.81.
Tell us your thought about the 10 February Ripple Price Technical Analysis. Post your Ripple target in the comment box below.