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.   

 

 

 The views opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.