Ripple value: the price recovers
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Ripple value: the price recovers

By Federico Izzi - 15 Oct 2019

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While bitcoin remains stuck between $7,800 and $8,700, the price of Ripple recovers points and it is one of the altcoins that stands out most in recent days giving a clear countertrend signal, as does its twin Stellar (XLM).

Today Ripple rises just over 1%, while Stellar is doing better with a gain of 3%.

From the annual lows of September 24th, XLM gains ground even if at a lower intensity than Ripple, with a recovery of 25%. Stellar is facing the bearish trendline passing through the area 68 cents of a dollar. 

Since yesterday, the price of Ripple has been dealing with the break of 30 cents of the dollar, a more psychological than technical area, the latter fixed at 28 cents of the dollar, which has now become medium-term support. The price of Ripple recovers 40% compared to the annual lows reached last September 24th.

Source: COIN360.com

The day sees a perfect 50% balance between positive and negative. Among the big ones, Binance Coin stands out, rising above 3.5%. Bitcoin and Ethereum continue to move at the levels of yesterday without giving particular indications of the short-term trend.

Among the best of the day, 0x continues to be noticed, along with Basic Attention Token (BAT), rising by about 10%. Both are the best of the day along with Educare (ECT), in 42nd position, with 137 million dollars of capitalisation.

With the rise of the last 5 days, BAT broke the trendline that highlighted the bearish trend since last April. Moving over 22 cents in the next few hours would give a first sign of reversal of the trend from downward to upward in the short term. 

The market cap fluctuates around $225 billion. The dominance of bitcoin is decreasing, bringing it to 66% of the market share. Ripple continues to eat decimal points, reaching 5.6%, which it has not recorded since last June, while Ethereum is trying to consolidate its position a few fractions of a decimal point below 9%, levels reached with the recent rise at the beginning of October, and which ETH had not recorded since last July 2019.

Bitcoin chart by Tradingview

Bitcoin (BTC) Price

Bitcoin continues to oscillate in the lateral band which now provides no useful operational indication. For this reason, the upward breakage of $8,700 remains important in the case of new bullish moves. 

Conversely, it is important not to break through the $7,800 threshold, a support base that between late September and early October rejected the attacks of the Bears. 

Ethereum chart by Tradingview

Ethereum (ETH) Price

Ethereum is facing the dynamic annual resistance that began at the end of June and is now just under 190 dollars. Confirmation above these levels would probably attract purchases and the re-testing of the $200, which continues to remain a crucial technical and psychological threshold for any future bullish phase. 

For ETH, it is necessary not to return below the threshold of 165 dollars in the short term and 155 dollars in the medium term. 

Ripple chart by Tradingview

Ripple (XRP) Price

The price of Ripple recovers and returns to test the 30 cents, but for XRP it is necessary to go beyond the 32 cents in the coming days to put behind the bearish trend that alongside that of Stellar and Tron makes them the worst of the major coins since the beginning of the year. 

 

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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