XRP is going up: conquering 30 cents
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XRP is going up: conquering 30 cents

By Federico Izzi - 14 Oct 2019

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The price of XRP is going up these days. The Ripple token made itself noticed during a weekend with no particular shocks. The new week starts with prices at the levels of last Friday. This is true for bitcoin, which is around $8,300, and Ethereum, which dances around $180-185.

Ripple chart by Tradingview

Ripple (XRP) shows a clear sign of redemption. Over the weekend, XRP started to give indications of recovery confirmed today by going up 3.5%, making the price rise over 29 cents and surpass the previous highs of last Wednesday, re-testing again the line of the former support now become resistance. 

It will be very important to observe the trend of Ripple in the coming hours. Any increase above 30 cents could attract new purchases. 

Source: COIN360.com

Among the big ones, the other rise worthy of note today is that of Cosmos (ATOM), which rose by more than 5%. The prices of Cosmos thus return to test the bearish trendline of the medium-term started with the relative highs of the end of June, bringing them back above the psychological threshold of 3 dollars.

However, the best of the day is 0x, which flies over 14% and returns above 33 cents, levels it has not recorded since the end of June. 0x breaks the bearish trend that began last April.

On the other hand, the worst of the day is the pair MaidSafeCoin (MAID) and Crypterium (CRPT), both down 11%.

Total capitalisation remains above $225 billion with trading volumes remaining quite low, under $50 billion, despite a 10% recovery on the contracts traded on Sunday.

Bitcoin chart by Tradingview

Bitcoin (BTC)

Bitcoin continues to oscillate around 8,300 dollars without giving particular operational indications. 

For BTC it is important not to return below the threshold of 7,800 dollars in this phase of oscillation that sees the prices caged in a range between 7,800 and 8,700 dollars since last September.

Ethereum chart by Tradingview

Ethereum (ETH)

After failing to break the bearish trendline that started with the highs at the end of June, Ethereum returns to test again the $180-185 threshold, a level that has attracted prices since the end of August.

For ETH, the indications of the past days remain valid: a break above 190-195 dollars is necessary in order for the price to go up. By contrast, a fall below 165-155 dollars would raise concern. 

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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