By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

On Friday, February 7th, XRP is slightly correcting after skyrocketing earlier. The instrument is mostly trading at 0.2814 USD.

From the technical point of view, the H4 chart of XRP/USD shows a stable uptrend. The interesting thing right now is that after testing the long-term resistance level, the pair is trying to fix above it. In the short-term, the price is expected to correct towards 0.2530, which is confirmed by the red color of the MACD histogram. After completing the pullback, XRP may resume the ascending tendency towards 38.2% and 50.0% at 0.3012 and 0.3405 respectively. The rising movement of the MACD lines confirms further growth.

XRP/USD H4

The H1 chart shows the divergence on Stochastic, which indicates a possible correction to the downside in the nearest future. The correctional targets may be 23.6%, 38.2%, and 50.0% fibo at 0.2704, 0.2594, and 0.2508 respectively.

XRP/USD H1

Ripple is facing criticism again. This time, it’s Mike Novogratz, the head of Galaxy Digital, who said that…

Click to continue reading on its source location…

Source: https://themerkle.com/xrp-price-analysis-for-february-7th-xrp-ready-for-correction-in-order-to-continue-growing/