February 08, 2018 – today’s Ripple price watch.
- Ripple (XRP) held steady, hovering around $0.7300 to $0.7600 throughout most of the day
- A bullish trend line has formed after holding support at $0.7400
- A new resistance level is targeted around $0.7650
Ripple Price Trend
Ripple’s price moved steadily for the last two days. As with yesterday, XRP/USD hit the $0.8000 mark once again today, only to drop back down to around $0.7500. Despite some big pullbacks earlier today, two bullish trends were formed during the past few hours. Now, the coin is holding a support at $0.7400.
Investors will need to monitor whether a resistance of about $0.7650 could subsequently hold, especially as Ripple is currently trading below its 20-day moving average. This resistance is pivotal for it to go back to $0.8000.
As for the MACD indicator, a bullish signal was sent in the past 30 minutes, hence further upward movement is expected.
Looking at the Technical Indicators:
- MACD — the MACD indicator is giving a bullish signal
- Major Support Level — $0.7400
- Major Resistance Level — $0.7650
Featured Image: Depositphotos/© Violka08