XRP Price Analysis – October 5

  • XRP price fell to its low at of $0.51.
  • Long trades should be exited near the upper level of the price range

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Bearish

Resistance Levels: $0.59, $0.61, $ 0.63                                                                                                               

Support Levels: $0.50, $0.48, $0.48

The XRPUSD pair had been bearish in the last 24 hours. The bears have exhausted their bearish movement at the low of $0.51. On October 4, the bulls could not break the resistance at $0.54. Secondly, XRP price is currently range bound between the levels of $0.50 and $0.60. However, the price is currently reversing at the lower level of price range .

In order to earn partial profits traders ought to initiate long trades at the price of $0.52 and a stop loss below the $0.50 price level. These long trades should be exited near the upper level of price range. Nevertheless, XRP price is above the 12-day EMA and the 26-day EMA which indicates that a 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: Ranging  

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View                   

On the 4-hour chart, the XRP price is in a range bound movement. The XRP price is still below the 12-day EMA  and the 26-day which indicates that a bearish trend is ongoing. Nevertheless, the Relative Strength Index period 14 is level 41 which indicates that a sideways trend is ongoing.      

 

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