After ralling to record highs of EUR 2.63 at the beginning of the year, the price is in a continuous downward trend and currently stands at EUR 1.3
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The ripple course has dropped this week.
Since reaching the all-time high on January 4, 2018, the share price is in a stable downward trend and is currently testing important support.
Most important support is 1.38 EUR, the most important short-term resistance at 1.97 EUR.
Ripple has been quite resilient since reaching the all-time high on January 4 as the price has dropped almost 50% since this all-time high. This is partly due to the uncertainty of the buyers after the decision Coinmarketcaps regarding the exclusion of Korean Exchanges justified. On the other hand, the rumor of Ripples support has been refuted by Coinbase for the time being . After all, a significant consolidation after the rally that Ripple has had since mid-December is also not entirely surprising.
In any case, since January 4, the price has followed a steady downtrend and has now fallen below the exponential moving averages of the past one or two weeks (shown as blue or red lines in the main panel).
The MACD (second panel from the top) is negative, as well as the MACD line (blue) is below the signal (orange).
The RSI (third panel from the top) is 27 and is therefore not only bearish, but oversold.
Overall, therefore, the situation is bearish according to price, trend and indicators . The oversold RSI, however, gives reason to hope that the current test of support will end up positive for the ripple price.
The most important support is described by the minimum on December 31 and is at 1.38 EUR. This support is, as already indicated, currently being tested. Should this support be broken, the next downtrend target would be defined by another support line at $ 0.76, as described by the plateau between December 21st and December 26th.
The most important resistance is described by the downtrend, which currently stands at 1.97 EUR. Should this be broken, the downtrend would have come to an end, at least for now. A next resistance on the way to new heights is described by the plateau between the 6th and 8th of January, which is around 2.29 EUR.
Enjoy the vote and reward!
here is a link to a post that gives you some of the unwritten rules.Thanks for the update on Ripple @hassantalal. Hope you stop using the tag introdceyourself for posts like this in the future though. It pollutes the introduceyourself category and, frankly, pisses off the people who are able to positively affect your wallet balance by upvoting you (or not if you don't play by the unwrotten rules). Maybe you didn't know, that is okay. We are all here to help each other out. So
Happy Steeming!
oh thankyou. really i didn't know that before your guidance. Stay blessed
No worries. If you hv any questions feel free to ask.
xrp has unlimited supply. won't recommend to buy.