Ripple XRP Price Is Getting Ready For A Bullish Move
Ripple XRP price is currently trading at $0.25 and many speculator are buying as much as they can right now because they know that the "4 coins for $1" deal will not last very long. Ripple XRP price seems to be ready to make a big move upwards against the USD and BTC.
XRPUSD - Ripple XRP price against USD
On the September 30th, the Ripple cryptocurrency made a swift upward move from $0.235 to $0.261
This is the move that turn the short term Gaussian channel from bearish to bullish.
This move also brought the buy XRP UK and USD price back above the 200MA.
Since this event there has been a price correction where the XRP price touched the 200MA line several times but never closed below it.
Today we are witnessing another bounce from the 200MA but with a greater amplitude.
XRPBTC - Ripple XRP price against BTC
When we compare the XRP value against BTC, we can notice that the ripple coin has been trading above the 200MA for a while already.
There has been a correction and a similar bounce off the 200MA also took place today.
The 3000 satoshi area seem to act as a good support on the XRPBTC chart.
XRP is starting to show some bullish price action on the 1H time frame.
This is still very early days and we will need more confirmations from the daily and weekly time frames in order to be fully bullish.
BTC dominance has been dropping steadily for the past few days...
This could be the very first sign of the Altcoin season, big price hikes can happen overnight.