Ripple (XRP) has been closing higher for the last one week after hitting a low of $0.41 in the last crypto slump. It is currently trading at around $0.47-$0.48. While this is not a huge move, it is a sign that the dark days of sustained price drops are coming to an end. This assertion is supported by the fact that ripple (XRP) has broken above the 21-day moving average resistance level at $0.49. It is currently trading along this moving average, indicating that the break above this resistance is likely to hold. In intra-day trading, Ripple (XRP) is trading steadily above the 21-day moving average at $0.47.
If it holds above $0.46, ripple (XRP) could push to $0.54, the key resistance level to the upside. This possibility is also supported by bitcoin (BTC)’s current price momentum. In the last 36 hours, bitcoin (BTC) has been trading above the 55-day moving average, a key indicator that bullish momentum is the market at the moment. Given that bitcoin (BTC) has a huge influence on the entire crypto market, its rise will support ripple’s rise above $0.50 in the next 24 hours or so. There is minimal risk of a ripple (XRP) slide to under $0.45 within the day.
Ethereum Classic (ETC)
Ethereum Classic looks hugely bullish relative to most other major cryptos today. In the last 72-hours, Ethereum Classic (ETC) has broken above two major moving averages, the 55 and the 100 day moving average, and its rising higher. That’s an indicator that its value is headed higher, and might reach $22, along the 200-day moving average in the next 24-48 hours. In intra-day trading, Ethereum Classic (ETC) looks even more bullish, having broken above the 200-day moving average.
The fact that it is ranging above this moving average is a sign of bullish accumulation. Accumulations are usually followed by breakouts, and in this case, chances are that it will be a bullish breakout. The next target in case it breaks out in the next 12-24 hours will be $18.20. An increase in market could see it push higher to the longer-term resistance level of $22.
From the day charts, it is clear that Stellar is trending upwards. After pushing up for the last 6 days, Stellar (XLM) has dipped slightly after testing the 21-day moving average at $0.20. This is a bullish signal as it indicates some profit-taking before the trend continuation. Once it breaks above $0.21, the next target is $0.23, a price level that has experienced some profit taking in the past. In intra-day trading, Stellar (XLM) is trading steadily above the 21-day moving average, though it’s likely to test it in the next few hours.
If Stellar holds above $0.19, it is likely to push to $0.23 in the day, or at some point in the next 24 hours. On top of that, the sentiment in the entire market is positive, which means that chances of it dropping in the short-term is minimal.