Ripple Price Watch | Investors Need to Monitor Resistance

February 08, 2018 – today’s Ripple price watch.

Key Highlights:

  • Ripple (XRP) held steady, hovering around $0.7300 to $0.7600 throughout most of the day
  • A bullish trend line has formed after holding support at $0.7400
  • A new resistance level is targeted around $0.7650

Ripple Price Trend

Ripple’s price moved steadily for the last two days. As with yesterday, XRP/USD hit the $0.8000 mark once again today, only to drop back down to around $0.7500. Despite some big pullbacks earlier today, two bullish trends were formed during the past few hours. Now, the coin is holding a support at $0.7400.

Source: Tradingview

Investors will need to monitor whether a resistance of about $0.7650 could subsequently hold, especially as Ripple is currently trading below its 20-day moving average. This resistance is pivotal for it to go back to $0.8000.

As for the MACD indicator, a bullish signal was sent in the past 30 minutes, hence further upward movement is expected.

Looking at the Technical Indicators:

  • MACD — the MACD indicator is giving a bullish signal
  • Major Support Level — $0.7400
  • Major Resistance Level — $0.7650

Featured Image: Depositphotos/© Violka08

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