XRP Price Analysis – November 20

Azeez Mustapha
  • The XRP price may find support at the $0.45 price level.
  • The bears may lose control to the bulls at the $0.45 price level.

Ripple, LTCUSD, 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 

The price of XRP was in a bearish trend. Yesterday, the bearish trend broke the 12-day EMA and the 26-day EMA. Previously, the crypto's price was fluctuating below and above the exponential moving averages. Now the price is in the bearish trend zone and may find support at the $0.44 or $0.45 price levels.

The Stochastic indicator is in the range above 40 as the blue and red bands fluctuate. That is the bearish momentum is losing strength as price reaches the support level at $0.45.

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 20, the digital currency reached a low of $0.45 and commenced a bullish movement. The crypto's price had been held at this price level since November 4th and 15th. 

Traders are to initiate long trades around the support of $0.45 if the level holds. Remember to place a stop loss order below the $0.45 price level.

 

 

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