Connect with us

Price Analysis

Ripple XRP/USD Price Prediction, Technical Analysis – February 16th

Published

on

Ripple Price Prediction and Technical Analysis

Ripple XRP is pushed back to the 3rd spot in terms of market capitalization. Ethereum is currently at the 2nd spot with a market capitalization of $12,902,334,241 while the market cap of XRP is $12,467,133,368 at the time of writing this post.

In terms of volume, ZB.COM stood first as 9.89% of the volume is traded on this crypto exchange in the XRP/BTC pair. BitMart and ZBG are at the 2nd and 3rd place with a volume of 5.38% and 5.30% respectively in the XRP/USDT pair.

Ripple XRP/USD Price Analysis

At the time of writing this analysis, Ripple XRP is trading at $0.302388 USD (-0.06%). Let’s start the price analysis based on the technicals like Oscillators and Moving Averages.

While looking at the moving averages the daily Exponential Moving Average (5) and Simple Moving Average (5) are 0.30795 and 0.30817 respectively. Here both the EMA (5) and SMA (5) are indicating towards sell.

Not only this all other EMA (10, 20, 30, 50, 100, 200) and SMA (10, 20, 30, 50, 100, 200) are in the sell zone. So, after looking at the moving averages it can be concluded that XRP is under a massive sell pressure zone.

Ripple XRP Price Chart by TradingView
Ripple XRP Price Chart by TradingView

Let’s have a look at the Oscillators so that there will be a clear understanding of the price pattern. The daily Relative Strength Index (14) for XRP is 45.48739 which is currently in the neutral zone. The daily Stochastic %K (14, 3, 3) is also in the neutral zone with a value of 45.77842 while the Awesome Oscillator is -0.00663 and in the sell pressure zone.

The MACD Level (12, 26) is -0.00532 and is in the buy zone. Let’s also have a quick look at the hourly Moving Averages and Oscillators.

In the hourly XRP price chart the EMA (5, 10) and SMA (5, 10) are in the sell pressure zone, while the EMA (20, 30) and SMA (20, 30) are in the buy zone. Overall the hourly moving averages are in the sell pressure zone.

Looking at the hourly Oscillators the RSI (14), Stochastic %K (14, 3, 3) and Average Directional Index (14) are in the neutral zone. While the MACD Level (12, 26) is 0.00017 and is in the buy zone.

Conclusion

After looking at the price analysis based on the daily and hourly Moving averages and Oscillators it can be concluded that Ripple XRP will make a strong resistance at around $0.30 USD. A slight drop in price might be seen if the price resist at $0.30 for a longer time.

This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.

Loading...

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.