XRP Price Analysis – April 15

  • The XRPUSD pair ranges at the $0.32 price level.
  • The XRPUSD pair will resume its bullish trend if the bulls break above the $0.34 price level.

Ripple, XRPUSDXRP Chart by TradingView

XRPUSD Medium-term Trend: Bearish

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.33, $0.31, $0.29

Last week the XRPUSD pair traded in the bullish and bearish trend zones. In the bullish trend zone, the bulls tested the $0.37 resistance level and were resisted. The bears broke the 12-day EMA and the 26-day EMA to reach the bearish trend zone. In the bearish trend zone, the crypto's price was ranging at the $0.32 price level.

The crypto's price is also below the EMAs which indicates that the price is likely to fall. However, if the crypto's price  ranges for a day or two it may have a price breakout or a price breakdown. On the upside, if the bulls break the $0.34 price level the crypto's price will resume its bullish trend to retest the $0.37 price level.

On the downside, if the bulls fail to break the $0.34 price level, the crypto's price will resume its range bound movement between the levels of $0.29 and $0.34. Meanwhile, the stochastic is in the oversold region but above the 20% range. This indicates that the XRP price is in a bullish momentum and a buy signal.

XRPUSD Short-term Trend: Ranging

Ripple, XRPUSDXRP Chart by TradingView

On the 4-hour chart, the XRP price is in a range bound movement. On April 11, the bears broke below the 12-day EMA and the 26-day EMA to reach the low at $0.32 .The crypto's price is commencing  a range bound movement below the EMAs and at the $0.32 price level.

Nevertheless, if the bulls break above the EMAs, the crypto's price will resume its bullish trend. On the other hand, if the bulls fail to break above the EMAs, the price will continue its range bound movement. Meanwhile, the stochastic indicator is in the oversold region but above the 40% range which indicates that the XRP price is in a bullish momentum and a buy 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.        

Quantitative Bitcoin Analyst PlanB Explains Why His Identity Remains a Secret

Michael LaVere
  • Quantitative crypto analyst PlanB keeps his identity a secret to avoid interfering with his employment at an institutional investor.
  • PlanB gained prominence for being the first analyst to apply the stock-to-flow (S2F) model to bitcoin. 

The anonymous crypto analyst PlanB has revealed why he keeps his identity a mystery. 

PlanB, who gained prominence on Twitter and Medium for being the first analyst to apply the stock-to-flow (S2F) model to bitcoin, said he keeps his true identity a secret in order to avoid interfering with his day job. 

Speaking in an interview with In Gold We Trust, the quantitative analyst said, 

I am both an analyst and investor at an investment office of a large institutional investor in the Netherlands. As a team we invest USD 50+ billion AUM. My main focus is on mortgages, loans, and structured finance. I do not want my employer to have any negative consequences from my Bitcoin ‘hobby’. Also, I consider it good operational security to remain anonymous.

PlanB continued, explaining he has no interest in becoming a public figure and does not intend to reveal his identity any time soon. 

He also refuted several criticisms against the application of stock-to-flow to bitcoin, which evaluates the injection of new BTC into the market relative to the total circulating supply. 

He said, 

People that use the demand argument probably don’t have a statistics or investing background. The argument is theoretically right (price is a function of supply and demand) but there are a lot of famous pricing models that do not use demand – or supply – as input and still give good predictions.

PlanB said strict adherence to the overall demand for bitcoin, which does not apply in S2F, is an argument based on “ignorance.”

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