XRP Quotes Upwardly the Value of Ripple Ltd’s Business

Fibo Quantum

  • The technical structure of the XRP points high, far away.
  • Bitcoin plays a technical trick in a price limit zone.
  • Ethereum feels strong and breaths down King Bitcoin Moon???’s neck.

The cryptocurrencies market continues to contract as it moves towards crucial support levels. Future price scenarios are ambiguous at this time.

In the most favorable scenario for price increases, they would be ready to start before the end of this month. Once Bitcoin reaches the support zone at $7,600-$7,700 and Ethereum at $165-$170, we can expect a few days of psychological play to come out strongly.

In the adverse scenario, the supports mentioned above do not hold, and medium-term base objectives are opened. In the case of Bitcoin, $5,000 would be in sight. For Ethereum, the aim would be in the area of $130-$140.

And what about XRP?

Ripple’s token is a case apart. Technically it is in a different phase than Bitcoin and Ethereum.  The upward trend that began on September 24 has fulfilled the first objective of surpassing the medium-term moving averages. After three days of declines, XRP/USD seems to find support at the SMA100.

It is clear that the market sees XRP in a different light in comparison to Bitcoin or Ethereum. The dream scenario for XRP is to be qualified as equity. That qualification would lead XRP holders to acquire participative rights over the parent company, Ripple Ltd – It’s honey for the bees!

 

BTC/USD Daily Chart

BTC/USD is currently trading at $8,035 and is in the middle of the current price range between primary support at $7,700 and the $8,800 main resistance level.

Above the current price, the first resistance level is at $8,180, then the second at $8,400 and the third one at $8,800.

Below the current price, the first support level is at $7,875, then the second at $7,750 and the third one at $7,700.

The MACD on the daily chart remains crossed up by the low while keeping the bullish slope almost intact. The logical time to start a new uptrend, if it is to occur, would be in the next few hours.

The DMI on the daily chart shows that bears have a clear advantage over bulls. Buyers remain at shallow levels of trend strength, taking the situation to an extreme that may favor a change in price direction.

 

ETH/USD Daily Chart

The ETH/USD pair is currently trading at the $176.3 marginally painting the chart in green. 

Above the current price, the first resistance level is at $180, then the second at $190 and the third one at $195.

Below the current price, the first support level is at $170, then the second at $160 and the third one at $155.

The MACD on the daily chart shows a bearish cross just below the indicator’s zero levels. The closeness of the bullish zone maintains hope of an upward move.

The DMI on the daily chart shows a minimal advantage for bears over bulls. Also, in this case, the closeness between the two sides of the market would facilitate a possible bullish turn.

XRP/USD Daily Chart

The XRP/USD is currently trading at $0.2951 after a first attempt to break above $0.30 – it has been left at $0.2996.

Above the current price, the first resistance level is at $0.296, then the second at $0.30 and the third one at $0.308.

Below the current price, the first support level is at $0.293, then the second at $0.288 and the third one at $0.285.

The MACD on the daily chart shows an increase in bullish inclination as well as an increase in line spacing – a potentially very optimistic situation for the XRP.

The DMI on the daily chart shows an acceleration of the bulls accompanied by a withdrawal of the bears. It supports the bullish continuity again.

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