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 price of XRP was in a bearish trend.  On November 22, while in a sideways trend a bearish candlestick was resisted by 12-day EMA and it resumed its downward trend.  Yesterday, it was suggested that the XRP price is still in the bearish trend zone and if the bearish trend continued, the digital currency would find support at either $0.40 or $0.43.

Yesterday, the digital currency actually fell to a low of $0.43.  Today, the cryptocurrency is still on a downward trend and the price is approaching the low of $0.41.The Stochastic indicator is in the range above 20 which indicates a strong bearish momentum. In addition, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that the price is likely to fall.

If the bearish pressure continues, the XRP price will revisit the October 11, previous low of $0.38.

XRPUSD Short-term Trend: Ranging   

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View
                   

On the short term trend, the XRP price is in a bearish trend. The digital currency fell to the low of $0.41 and commenced a bullish movement. The bullish movement may face resistance at the 12-day EMA. The crypto’s price is below the EMAs which indicates that the price is likely to fall.

 

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