Ripple left behind a quiet week of horizontal band movement. Starting the week at $ 0.317, Ripple had a 1% gain on the close of the week at $ 0.32.
Previous Week Technical Developments
Ripple, previous week L2 ($ 0.355) the resistance was under pressure. If this week L2 ($ 0.355) unfortunately did not find the acceleration of the level. We see that Ripple acts in line with the dynamics of the market, starts with a decline in the week, rebounds with purchases from Tuesday, and continues its horizontal movement for the rest of the week.
In the close plan of the graph; XRP price is approximately one and a half months T2 is moving with the support of the rising trend. the horizontal $ 0.347 level of resistance has not been passed for about two months. XRP Price $ 0.347 and T2 we can say that it continues to be trapped between.
In the XRP / BTC parity, we see an uptrend for two days following the downturn on Monday. But this rise 8250sat and the rest of the week continued to decline. We see a significant decrease in the volume side with the decline.
Let's Evaluate Technical Developments
Ripple, the medium-term falling trend toAlthough he broke up, he still could not show a serious attack. This situation also disappointed the investor. Although we see that the table is not clear positive, I think there is no need to despair. Of course, we need to follow some conditions closely for this.
Currently in the medium term T1 As long as the rising trend is not broken down, we cannot say that the outlook is clearly negative. Due to T1 Our expectations will be up for direction as long as it is on. In shorter terms T2 It will be appropriate to follow the rising trend. As long as you stay above this level $ 0.347 level. $ 0.347 Our goal on level $ 0.40 will level. If the market continues to be negative, I have stated T2 and T1 rising trends should be followed as support. I think that the sales pressure will increase in the closing of these levels.
In XRP / BTC parity Y3 (7800Sat) level of important support. I'm evaluating that the appearance will worsen below this level. XRP / BTC graph D1 the trend has been tested for three times and the break up has not occurred. Due to D1 I think the price will gain an upward momentum on the trend.
Information, reviews and evaluations included here It is NOT within the Scope of Investment Consultancy. (Date of analysis: 11/03/2019)
Graphics Source: TradingView