Price Analysis

Ethereum/Ripple Price Analysis: Is XRP/ETH Getting Ready for the uptrend?

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Ethereum’s current price is $268.74, and its 24 Hour trading Volume is 9,939,941,739 USD. ROI is more than 9000%, and the Market cap is 28,557,674,462 USD while Circulating Supply is 106,263,629 ETH. While XRP (XRP) price is $0.4386 with a 24-hour trading volume of $3,109,498,828 USD. Price is up 6.9% in the last 24 hours. It has a circulating supply of 42.1 Billion coins and a max supply of 100 Billion coins. ROI on XRP is 7,367.24%.

Technical Analysis:

1-Day chart

XRP/ETH price is currently at 0.00162

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Ethereum Price chart

RIPPLE / ETHEREUM is within a range of expectations and the start of the uptrend.
The price is below the 200-Day MA, which acts as a dynamic resistance (supply zone). The RSI is at 46. While the price downtrend in the Daily chart  is not broken, the bearish wave in price would continue till demand zone.

There is still a possibility of temporary retracement to suggested demand zone (0.00127 to 0.00155). If so, traders can set orders based on supply-demand and expect to reach short-term targets.

Signal to market entry occurs when the price comes to “Buy Zone” then forms one of the reversal patterns, in other words, NO entry signal when the price comes to zone BUT don’t form any of the reversal patterns in that zone.

4-Hr Chart:

Ethereum Price Chart

4 hr chart shows a different scenario. Price has rebounded 200-day MA and is currently on a downtrend for a short period (till it reaches the purple line at 0.00152). RSI indicator also shows a downtrend currently at 65. Signal to buy will be around 0.00156 but till then it’s safe to short this pair for short goals.

Conclusion:

Ethereum is a decentralized coin, meaning no single authority controls the supply or transaction verifications. Ethereum can be mined. On the other hand, Ripple is centralized — at least for supply, but Ripple Labs holds uncirculated Ripple in escrow.  Looking at the growth projections, it is safe to advise in support of buying fresh coins. Long-term holding will give the required profit.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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