LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
No Result
View All Result
Trading

Ripple Technical Analysis for 08/24/2017 – Bullish Pullback Opportunity

by Sara Jenn
August 24, 2017
in Trading
Share
logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up

Ripple broke past its descending trend line resistance to indicate that a reversal from the downtrend is in order. Price found resistance at the 0.3000 mark and is making a correction to the nearby retracement levels.

Applying the Fib tool on the latest swing low and high shows that Ripple is finding support at the 50% retracement level but might still pull back to the 61.8% level near the 0.2000 major psychological level. If any of these levels keep losses in check, Ripple could find its way back to the swing high or higher.

Stochastic is turning down from the overbought level to signal a return in selling pressure. RSI is also turning lower from the overbought zone so Ripple might follow suit. The 100 SMA is crossing above the longer-term 200 SMA so the path of least resistance is to the upside. These moving averages are close to the broken descending trend line, adding to its strength as potential support.

Bitcoin is currently under pressure as hard fork issues may be resurfacing on stronger network acceptance of bitcoin cash. It has been reported that this rival version generates new blocks at 1-2 minutes faster compared to the original core version so miners are shifting to bitcoin cash, forcing bitcoin to retreat off its highs.

Other cryptocurrencies have been able to take advantage of this drop, just like Ripple. The company behind Ripple is focused on building a better bitcoin as it wants to handle transaction volume on a higher scale. The company approaches banks with its enterprise software, along with the Interledger Protocol. They propose a corresponding banking paradigm in which banks with no direct relationship rely on intermediaries in order to send payments to each other.

The dollar is also being weighed down by political rifts in Washington, casting more doubts on the administration’s ability to power through with its fiscal reform agenda. North Korean jitters are also resurfacing after Pyongyang viewed the joint military drills between US and South Korea as an act of provocation. A continuation of risk-off flows could benefit Ripple as cryptocurrencies tend to attract investor interest during these scenarios.

Related Posts

Bitcoin Cash Price
Altcoin News

Bitcoin Cash Analysis: Bulls Face Key Resistance Near $225

Bitcoin cash price started a downside correction from the $225 zone against the US Dollar. The price is now...

by Aayush Jindal
September 22, 2023
EOS Price
Altcoin News

EOS Price Analysis: Technical Indicators Suggest Increase To $0.64

EOS price is eyeing a fresh increase from the $0.525 support against the US Dollar. The price is now...

by Aayush Jindal
September 21, 2023
Litecoin (LTC) Price
Altcoin News

Litecoin (LTC) Price Analysis: Uptrend Intact Above $62

Litecoin started a downside correction from the $68.25 zone against the US Dollar. LTC price is now trading above...

by Aayush Jindal
September 21, 2023
Tron (TRX) Price
Altcoin News

Tron (TRX) Price Analysis: Path To $0.10 Is Still Open

Tron price started a fresh increase above the $0.080 level against the US Dollar. TRX price is now trading...

by Aayush Jindal
September 21, 2023

Top Casinos

Crypto Casinos
Crypto Casinos
Bonus Finder
Bonus Finder

Press Releases

  • Alaya: The Pioneer of Artificial Intelligence Data

  • Zeebu Secures $25 Million in Presale Funding for World’s First On-chain Invoice Settlement...

  • Reef Labs $10M Accelerator Program COHORT 1 Begins, Paving the Way for Web3 Innovators

  • Registration for the Finance Magnates London Summit 2023 is officially open!

  • Tapbit Introduces Contract Copy Trading: Unlocking Profits for All Investors in the Cryptocurrency...

About us:

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin…

Follow us:

  • This field is for validation purposes and should be left unchanged.

  • About
  • Partners
  • PR
  • Advertising
  • Privacy
  • T&C
  • Contact
  • Trading Software
  • Online Casinos Germany

© 2023 Live Bitcoin News. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise

© 2023 Live Bitcoin News. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.
Go to mobile version