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: critical support continues to hold

    By Nathan Batchelor

    17:55, 18 September 2020

    Ripple analysis

    Ripple is gaining traction in the near-term, as the third largest cryptocurrency begins to test above the pivotal $0.25 level.

    Ripple analysis shows that gains above the $0.25 level should encourage the next push higher in the XRP/USD pair, towards the $0.27 area.

    Ripple medium-term price trend

    The recent rally in Bitcoin is lending support to other top altcoins, as traders start to become more bullish towards cryptocurrencies, following the broad based early-month sell-off. 

    Ripple technical analysis shows that 0.263 and the 0.275 levels are the next major resistance barriers bulls need to overcome. 

    The daily time frame shows that the XRP/USD pair will move back inside a rising price channel, if the price moves above $0.263.

    According to technical analysis, the rising price channel is located between the $0.263 and $0.33 levels. 

    Moving back inside the channel would be a positive medium-term development for the XRP/USD pair, and could prompt a test towards the top of the channel.

    US100

    20,739.20 Price
    +0.460% 1D Chg, %
    Long position overnight fee -0.0241%
    Short position overnight fee 0.0019%
    Overnight fee time 22:00 (UTC)
    Spread 1.8

    XRP/USD

    1.41 Price
    +26.550% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.01168

    BTC/USD

    99,212.50 Price
    +4.980% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 106.00

    Gold

    2,685.10 Price
    +1.310% 1D Chg, %
    Long position overnight fee -0.0174%
    Short position overnight fee 0.0092%
    Overnight fee time 22:00 (UTC)
    Spread 0.30

    Traders should note that the XRP/USD pair’s 50-day moving average offers the strongest form of resistance above the $0.263 level, and is found at $0.275. 

    What is your sentiment on EA?

    168.11
    Bullish
    or
    Bearish
    Vote to see Traders sentiment!

    Ripple short-term price trend

    Ripple technical analysis highlights that the cryptocurrency is bearish over the short-term while the price trades below the $0.28 level. 

    The four-hour time frame shows that a head-and-shoulders pattern has recently been invalidated, following the recent rally above the $0.25 level.

    According to the size of the invalidated head-and-shoulders pattern, the XRP/USD pair could rally towards the $0.275 area.

    Failure to maintain the price above the $0.25 level could see the XRP/USD pair slipping back towards the $0.23 technical region.

    Ripple technical summary

    Ripple technical analysis shows that the recent recovery is gathering pace and may soon reach the $0.275 resistance area.

    Markets in this article

    XRP/USD
    Ripple / USD
    1.40747 USD
    0.29354 +26.550%

    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