XRP Price Analysis – November 16

Azeez Mustapha
  • The bears are in control both in the short and medium-term trend.
  • The crypto's price also will have difficulty to resume its uptrend as the $0.50 price level is broken on the downside.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Bearish

Resistance Levels: $0.56, $0.58, $ 0.60

Support Levels: $0.40, $0.38, $0.36 

Yesterday, the XRP price was in a bullish trend. The 12-day EMA  acted as a support for the bullish candlesticks and it was suggested that if price broke the exponential moving averages the cryptocurrency would find it difficult to resume its uptrend movement. From the chart, the crypto's price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

Probably, the price may fall to the $0.45 price level. The crypto's price also will have difficulty to resume its uptrend because the $0.50 price level is broken on the downside. The Stochastic is in the range below 60, the momentum of price is on the downside as the bears gain more grounds.

XRPUSD Short-term Trend: Bearish       

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View            

On the short term trend, the XRP price is in a  bearish trend. On November 15, the price of the digital currency was in a bullish trend. The digital currency reached a high of $0.48. Incidentally, the crypto's price was resisted by the 26-day EMA and price commenced its downward movement. Meanwhile, the Relative Strength Index period 14 is level 43 which indicates that price is in the sideways trend zone.

                                                                                     

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