XRP Price Analysis – February 15

  • The XRP price is in a bearish momentum in the short and medium-term trend.
  • The crypto’s price consolidates at the $0.30 price level.

Ripple, XRPUSDXRP Chart By Trading View

XRPUSD Medium-term Trend: Ranging

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.29, $0.27, $0.25

The XRPUSD pair is in a sideways trend. On February 8, a bullish candlestick broke the bearish trend line. It was assumed technically that the bearish trend is terminated. The assumption was that if a candlestick had broken a bearish trend line and the following candlestick closed on the opposite of it; the current trend is said to be terminated.

From the daily chart, these conditions were fulfilled. On February 11, after the trend line was broken the bears pulled back price. Later, we have candlesticks in a rectangular blocks that are consolidating daily at a price of $0.30. However, from every indication price may breakout from this range bound movement.

There will be a continuation of the bullish trend of February 8, 2019. If we have a price breakout, the crypto will rally at the $0.33 or $0.40 price level. Meanwhile, the stochastic indicator is out of the oversold region and below the 40 % range which indicates that the XRP price is in a bearish momentum and a sell signal.

XRPUSD Short-term Trend: Ranging

Ripple, XRPUSDXRP Chart By Trading View

On the 4-hour chart, the XRP price was in a sideways trend zone after the downward correction. The 12-day EMA and the 26-day EMA are trending horizontally indicating that price is in a sideways trend. The crypto’s price is neither below nor above the 12-day EMA and the 26-day EMA indicating that the price is in a sideways in trend.

Meanwhile, the stochastic indicator is in the oversold region and below the 20 % range which indicates that the XRP price is in a strong bearish momentum and a sell signal.

 

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Justin Sun Congratulates CZ on Binance Coin (BNB) Price Setting a New All-Time High

On Saturday (April 20), Justin Sun, the Founder and CEO of TRON Foundation congratulated Changpeng Zhao (aka "CZ"), the CEO of Binance, and the rest of the Binance team on the Binance Coin (BNB) price breaking its previous all-time high (ATH), which had been set in January 2018.

This was the tweet Justin sent out at 08:54 UTC on April 20:

CZ replied with this tweet:

According to CryptoCompare, at 07:05 (UTC), the BNB price reached the new ATH of $25.42, as can be seen in the 24-hour price chart shown below:

BNB - 24 Hour CC Chart - 20 Apr 2019.png

As CryptoGlobe reported on April 18, there have been quite a few catalysts behind the impressive rise in the price of BNB over the past three months, a few of which are listed below:

  • High successful initial exchange offerings since January 28 (BitTorrent, Fetch.AI, Celer Network) via Binance Launchpad.
  • Ever-expanding list of use cases for Binance Coin.
  • Regular quarterly BNB token burns (the 7th one was reported by Binance on April 16).
  • Successful mainnet launch of Binance Chain (on April 18), with the swap from ERC20 BNB tokens (on Ethereum) to BEP2 BNB tokens (on Binance Chain) expected to begin on April 23 at 00:00 (UTC).

With regard to future BNB price catalysts, since Binance seems to be betting its future on Binance Chain, the main ones are probably:

  • a successful token swap process (i.e. from ERC20 BNB to BEP2 BNB);
  • existing projects, such as decentralized social media platform Mithril, announcing their migration to Binance Chain; and
  • new projects deciding to adopt Binance Chain.

Finally, if you are a BNB token holder and you are worried about how to prepare for the mainnet token swap, the best advice comes from Binance:

 

Featured Image Courtesy of Binance