Ripple (XRP): Excellent Upside Potential For The New Coinbase Club Member

• XRP escapes the general technical structure and continues with clear upside options.
• A market distracted by the macroeconomic situation continues in pause mode.

Yesterday, the headlines of the top crypto media focused on the new relationship between XRP and Coinbase.

Coinbase, the main gateway to the world of Crypto assets, obtained permission to hold Ripple as well as being open to the possibility that the general public can buy it directly using payment cards.

Despite the importance of the news, the Crypto market is no longer the focus of the investment world. Equity markets entered into a "panic" mode yesterday, breaking trend lines originating from the 2009 lows and fears grow that the damage could be immense.

The role that will be played by the main players on the Crypto board in times of stock market panic will define what will happen in the coming weeks.

XRP/USD 1 D

For now, the XRP/USD remains above the trend line gained in mid-September, a level that will now be reinforced with the arrival of the Exponential Moving Average of 50 periods. In the European morning, the XRP/USD trades at the $0.46 price level, a little above the first support level at $0.445, where the aforementioned trendline meets with the EMA50 and also with support for price congestion.  It seems like a very solid support line, but if it is lost, it will find the second level of support in the $0.41 zone with the SMA100 and another support by price congestón. If all this fails, at the $0.37 price level which is the base of the bearish channel would be the last chance to avoid new annual lows.

On the bullish side, the situation is promising. At the $0.50 price level, the XRP/USD has its first resistance. Two cents higher we see the SMA200 which is beginning to take shape to the upside. Above this important moving average, the XRP can fly fast up to the $0.75 zone. $0.75 was the peak in September, setting a high bar for the cryptocurrency. Ripple set itself a very high standard that it will now have to beat if it doesn't want problems.

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The MACD at 240-Min rests placidly above the zero line of the indicator. This is positive, but it is the only valid information that can be extracted in the absence of volatility.

The DMI at 240-Min shows us that bulls that keep their advantage against bears but without being able to increase it. On the other hand, sellers retract slightly but remain above level 20. The ADX decreases following the fall in volatility. It seems that neither side has clear visibility, even in the short term.

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