XRP Price Analysis – November 19

Azeez Mustapha
  • The $0.46 price level has been a strong support for the crypto.
  • The XRP is likely to fall to the previous low of $ 0.46 if the bearish trend continues.

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 

Last week the price of XRP was in a bullish trend after the price fluctuated above the $0.46 price level. On November 18, the bulls reached the high of $0.51 but the resistance at $0.50 made the price fall. Today, the resistance at the $0.50 price level resulted in the breaking of the 12-day EMA and the 26-day EMA . The crypto's price is in the bearish trend zone as the price broke the $0.50 price level. .                     

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. The digital currency is likely to fall to the previous low of $0.46. The $0.46 price level has been a strong support for the price of XRP. The crypto will find  $0.46 price level if the bearish trend continues. This is because the previous levels on November 5 and 14 were held. Traders should initiate long trades if the price tests the $0.46 price level.

A stop loss should then be placed below the $0.46 price level. Meanwhile, the Relative Strength Index period 14 is level 43 which indicates that the price is in the sideways trend zone.   

 

 

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