Ripple XRP Signal Profits Increase, As It Makes A Break Above the 100 SMA

Skerdian Meta•Friday, April 30, 2021•1 min read

Ripple (XRP) went through a massive surge during the first few weeks of this month, nearly quadrupling value, as it increased from around $0.55 to $2. But, in but in the third week of this month cryptocurrencies went through a big retreat, which for RIPPLE turned out to be even more massive.

The price fell just below $0.90, which means losing more than half its value. Sellers pushed the price below the 200 SMA (purple) a couple of times, but there was no close below it, which didn’t count as a break.

We went long earlier on Ripple at the 100 SMA (green) as it was providing support and were in loss when the price dived to the 200 SMA. But we are in profit now, after XRP/USD bounced off the 200 SMA.

Ripple XRP Live Chart

XRP/USD

Buyers found resistance at the 100 SMA (green) on the H4 chart, but the 20 SMA (gray) which had provided support and resistance before, turned into support again, pushing the lows higher for Ripple. The triangle ws getting narrower as the price was heading towards the tip of it, which pointed to a breakout soon and the breakout came today.

The 100 SMA has been broken now and buyers are in control. Our Ripple signal is more than 3,000 pips in profit, but we will ride it further, since Riple is heading for this month’s highs at $2 and probably above it. After missing most of the crypto surge, as we explained in our 2021 Ripple forecast, now it has turned extremely bullish, so we are remaining long on tis cryptocurrency.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.