$XRP.X: Are we heading for new highs?

7 paź 2017

The XRP/USD exchange rate is currently sitting above what was once a major roadblock for the crypto's price action. As of this week, XRP was able to successfully gain enough momentum to break through previous resistance around the $0.23 level. While this "parabolic" price movement may be due to hype from the upcoming and long anticipated Ripple 'SWELL' event, its is currently showing no signs of slowing or consolidation. In fact, buy-volume is continuing to come in strong, and RSI seems to be keeping its upward momentum intact quite well. On the other hand, however, the MACD is signaling something important enough to be noted: while the 12-day EMA has been showing strength since it crossed above the 9-day EMA at a low point, it is beginning to show clear indications of over-bought volume. The large divergence (space) between the EMA's is showing this, but so far the 12-day EMA has yet to show any signs of lost momentum or weakness. Overall, in my opinion, expect XRP to experience continued bullish traction as we near the Ripple SWELL event.