XRP Price .Analysis – October 15

Azeez Mustapha
  • The XRP price broke the $0.50 price level but the price pulled back to the low of $0.46. 
  • The bullish trend is not likely to continue for the price to break the $0.50 price level.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Bullish

Resistance Levels: $0.52, $0.54, $ 0.56                                                                                                                

Support Levels: $0.46, $0.44, $0.42   

The XRPUSD pair was in a bearish trend last week. The crypto's price reached the high of $0.49 but could not break the $0.50 resistance level. Last week the price fell to its low at $0.38 and commenced another bullish movement to reach the high of $0.50.Today, the XRP price broke the $0.50 price level and reached the high of $0.52 but pulled back to the low of $0.46. 

The cryptocurrency is making another attempt to test the resistance level at $0.50 but will face resistance at that level. Meanwhile, the Relative Strength Index period 14 is level 52 which indicates that the crypto's price is in a sideways trend. According to the RSI,the bullish trend is not likely to continue to enable price  break the $0.50 resistance level. Rather the digital currency will commence a sideways trend.

XRPUSD Short-term Trend: Bullish        

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View     

On the short term trend, the crypto is in a bullish trend as represented in the 4-hour time frame. However, the XRP price is likely to commence a sideways trend. Nevertheless, the crypto's price is above the exponential moving averages (EMAs) indicating that the price is rising.

 

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