I am looking at the XRPZ18 chart for a quick update. Let's see what we can find... [B](HIT LIKE TO GET STARTED!)[/B]:
XRPZ18 has been in an uptrend since October 11 according to the chart above; higher highs and higher lows.
It has been taking the sideways path after the retrace from the last peak was completed... What will happen next?
Ripple will continue with a bullish bias according to the signals I am getting from the charts. The price can break down here but it will quickly bounce and resume up as soon as it finds support.
EMA50 (0.00008630) is our main support. If this level breaks, we test our next support at 0.00008250 with a final level of 0.00007200. This last level is the area most likely to hold if XRPZ18 breaks down strong. We can expect a bounce or consolidation here.
On the way up, the immediate resistance is sitting at 0.00008942. For bullish action, XRPZ18 needs to break and close above 0.00009116 just to start. Our main target is 0.0001059 after that.
The last scenario is sideways and we see it in play already... But with volume decreasing and the market about to make a strong move... This scenario isn't likely to continue... Maybe just a few more days before a break... We will keep an eye on the charts.
This is an update for Ripple (XRPZ18) price action on BitMEX. If you found this article helpful, please hit LIKE.
Make sure to leave a comment if you have any questions or have anything to share with the community, I will be happy to answer.
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Namaste.
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For Ripple against the dollar or Tether (XRPUSD / XRPUSDT) support levels check the following trade idea:
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