XRPUSD Medium-term Trend: Bullish
Resistance Levels: $0.56, $0.58, $ 0.60
Support Levels: $0.50, $0.48, $0.46
The XRPUSD pair was in a bullish trend for the fifth day. On November 6, the bulls reached the high of $0.57 but fell to the low of $0.49. The 12-day EMA acted as a resistance to the last bearish candlestick and acted as a support to the bullish candlesticks. On November 11, the $0.50 price level was broken and the price is approaching the $0.52 price level.
Nevertheless, as the bulls are pushing price upside, they have two hurdles to jump over. If the crypto’s price breaks the $0.55 price level, price will rally above the $0.60 price level. If the bulls sustain their hold above the $0.60 price level then the bulls will push the price to the high of $0.70. Traders should initiate long trades in anticipation of a bullish trend.
The stochastic is in the range of 60 which indicates a buy signal momentum of price is increasing on the upside.
XRPUSD Short-term Trend: Ranging
On the short term trend, the XRP price is in a sideways trend. The crypto’s price is ranging above the $0.52 price level. The crypto’s price will encounter another price breakout if it ranges. If the crypto’s price breaks below the exponential moving averages, the crypto may find support at $0.46. In the same vein, the Relative Strength Index period 14 is level 60 which indicates price is in the bullish trend zone.
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