CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
AL English
Country • Albania
    Entity • Capital Com Online Investments Ltd (SCB) (Regulated by SCB)
    English العَرَبِيَّة Deutsch ελληνικά Español Français Italiano Magyar Nederlands Polski Română Русский 简体中文 繁體中文

    Ripple analysis: Trapped below key moving average

    By Nathan Batchelor

    15:20, 10 June 2020

    Ripple analysis

    Ripple is struggling to move higher as the third-largest cryptocurrency by market cap remains trapped below its key 200-day moving average. 

    Ripple analysis shows that the cryptocurrency could rally towards the $0.2450 area if the $0.2100 level is overcome. 

    Ripple medium-term price trend

    Ripple has been trapped in a narrow price range for over a month, as traders remain undecided about the direction of XRP/USD.

    Ripple technical analysis shows that the cryptocurrency could rally towards the $0.2450 area over the medium term.

    Ripple technical analysis

    The XRP/USD pair has been capped below its trend-defining 200-day moving average for over a month.

    Additionally, the XRP/USD pair has been unable to perform a daily price close above the 200-day since late-February.

    The bigger picture for the XRP/USD pair continues to show price trapped within a falling wedge pattern. 

    A breakout above the top of the wedge, around the $0.2450 level, could see the XRP/USD pair surging towards the $0.3000 level, at a minimum.

    ETH/USD

    3,367.43 Price
    +0.640% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 6.00

    BTC/USD

    98,910.80 Price
    +0.830% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 106.00

    US100

    20,718.20 Price
    +0.130% 1D Chg, %
    Long position overnight fee -0.0241%
    Short position overnight fee 0.0019%
    Overnight fee time 22:00 (UTC)
    Spread 1.8

    Gold

    2,687.80 Price
    +0.680% 1D Chg, %
    Long position overnight fee -0.0174%
    Short position overnight fee 0.0092%
    Overnight fee time 22:00 (UTC)
    Spread 0.30

    Failure to move above the $0.2450 level could result in a large bearish correction towards the $0.1500 level.

    What is your sentiment on EA?

    168.11
    Bullish
    or
    Bearish
    Vote to see Traders sentiment!

    Ripple short-term price trend

    Ripple technical analysis shows that the XRP/USD pair has a neutral short-term trading bias.

    The four-hour time frame highlights that a bearish head-and-shoulders pattern is still present and weighing on the short-term technicals.

    Ripple technical analysis

    Weakness below the $0.2000 level could see the XRP/USD pair falling towards the neckline of the bearish pattern, which is located around the $0.1780.

    The size of the pattern indicates that the XRP/USD pair could decline by around $0.0600.

    If bulls invalidate the bearish pattern, then a rally towards the $0.3000 resistance area should be expected.

    Ripple technical summary

    Ripple technical analysis shows that the XRP/USD pair is trapped in sideways trading action. A breakout above the $0.2400 level could see the cryptocurrency testing towards the $0.3000 level. 

    Markets in this article

    XRP/USD
    Ripple / USD
    1.40225 USD
    0.22046 +18.470%

    Rate this article

    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
    You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
    CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
    CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
    Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

    Still looking for a broker you can trust?

    Join the 660,000+ traders worldwide that chose to trade with Capital.com

    1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading