XRPUSD Medium-term Trend: Bullish
Resistance Levels: $0.78, $0.80, $ 0.82
Support Levels: $0.50, $0.48, $0.46
The XRPUSD pair was in a bearish trend yesterday. The bearish trend was ongoing as the price corrected itself. The cryptocurrency pulled back and found support at $0.45 and later commenced a range bound movement. Today, the XRP price is making another bullish movement to the previous highs. XRP is ready to resume its climb after yesterday’s price correction.
The XRP price is approaching the price at $0.55 but is likely to face resistance at the price of $0.60. Traders ought to have initiated long trades as price find support at $0.45. However, if the XRP price is resisted, the cryptocurrency will commence a range bound movement above the price of $0.55. Meanwhile, the XRP price is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing.
The MACD line and the signal line are above the zero line which indicates a buy signal.
XRPUSD Short-term Trend: Bullish
On the 4-hour chart, the price of XRP is in a bullish trend. The XRP price is approaching the price at $0.55 after testing the support level at $0.45. The price is above 12-day EMA and 26-day EMA which indicates that the price is rising. Nevertheless, the Relative Strength Index period 14 is level 55 which indicates that the price is in the sideways trend zone.
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