Looking at the weekly charts, ripple (XRP)’s prospects look good. It is trading along a major support level at $0.44 and $0.48. The fact that it has held along this price level even after the market’s recent dip is an indicator that investors believe that ripple (XRP) is not worth less than $0.40. In the near-term, the price is likely to range along this price level, followed by a possible upside break.
Looking at the day charts, ripple (XRP) is entering into a consolidation phase, as volumes decline in the entire market. However, this range is leaning upwards and has slowly moved up from $0.42 to the current price of $0.46. This goes to show that the few players who are in the ripple (XRP) market at the moment are more active on the buying side.
For a clear entry into ripple (XRP), with a 24-hour target, the 12 hour chart offers the best entry point. That’s because it offers a good idea of how intra-day trades are playing out in the market. In the last 12-hours, ripple (XRP) has been trading on the higher side of last week’s pump that saw it break above $0.45. This goes to show that the current price range is more of a bullish accumulation, and an increase in volumes could see ripple (XRP) break out, and test $0.56 along the 55-day moving average.
In the last one week, XinFin (XDCE) has seen a huge surge in volumes, an indicator that money is flowing into this crypto, as more people get to learn of the power hybrid blockchains. This increase in volumes is an indicator that XinFin’s price is set to rise to in the near-term.
The weekly chart is already showing signs of this happening, and is forming higher highs, which is usually a sign of a bullish momentum.
In the last 24 hours, XinFin (XDCE) is clearly in an uptrend, having broken above the $0.0040 resistance point. If volumes continue to rise, XinFin (XDCE) could test $0.0043 in the next 24-hours.
The fact that volumes of XinFin are rising while they decline in the rest of the market is an indicator that interest in this crypto is on the rise, both in the short-term and in the longer-term. Therefore, a long-entry into XinFin (XDCE) offers a good risk/reward ratio, for investors.
Ethereum Classic (ETC)
In the last one week, ETC has formed clear upside momentum, since the Coinbase news came out. In the week, it has broken above the $16 key resistance level, a major indicator that a bull run is underway.
In the day, Ethereum Classic (ETC) is trading below the 55-day moving average, which is an indicator that the price could drop in the day, if it fails to break above this price.
This is confirmed in intra-day trading, where ETC is trading below a major resistance level at $16.79 at the 200-day moving average. That’s an indicator that ETC could decline slightly in the day, and test $15, along the 55-day moving average. Intra-day volumes are low too, and support the possibility of a slight dip in price. However, the overall momentum is bullish, and a dip would be a good buying opportunity.