Ripple Technical Analysis: XRP Has Flipped The Parabolic SAR From Negative To Positive
Daily Ripple XRP Price Analysis
- Ripple price has crossed the $0.70 psychological level.
- The MACD has reversed from bearish to bullish.
From May 19 to June 23, the Ripple price crashed from $1.59 to $0.54 dropping by 66%. SRP reversed the parabolic SAR from positive to negative and flipped both the 20-day and 50-day SMAs from support to resistance.
Ripple Price Stuck Below 20-day and 200-day SMAs
On June 23, the Ripple price jumped from the $0.54 support wall and is currently trending around $0.71. This Tuesday, XRP has jumped above the $0.70 psychological level and flipped the parabolic SAR from negative to positive. Plus, the MACD has also reversed from bearish to bullish so a further rise is expected. However, the 20-day and 200-day SMAs are blocking the uptrend on the upside.
Image: XRP/USD daily
In the 4-hour time frame, the Ripple price jumped from $0.605 to $0.71 flipping the 20-bar and 50-bar SMAs from resistance to support. The TD sequential detector tells us that XRP will have three bullish sessions in the 4-hour chart before flashing the green-nine candlestick (a bearish sign). The relative strength index (RSI) is hovering at the edge of the overbought zone.
Image: XRP/USD 4-hour
Ripple Price Is Expected To Reach These Levels
Having flipped the parabolic SAR from negative to positive, the Ripple price should flip the 20-day and 200-day SMAs from resistance to support.