XRPUSD Medium-term Trend: Bearish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
Last week the XRP price fell to a low of $0.30 while in a bearish trend. On December 3, the crypto had been in a downtrend from the high of $0.34. Today, the XRP price is falling and approaching the low of $0.31. The bottom line is that the crypto' price is below the 12-day EMA and the 26-day EMA which indicates that the XRP price is likely to fall.
The XRP price is most likely to revisit the previous low of $0.24. In addition, the Stochastic is below the 20% range and it is in the oversold region of the chart. This implies that the crypto has bearish momentum and a sell signal. We may consider a long trade if the crypto falls to the low $0.24.
XRPUSD Short-term Trend: Ranging
On the short term trend, the XRP price is in a sideways trend. On December 7, the crypto's price fell to the low of $0.29 and commenced a range bound movement below the 12-day EMA and the 26-day EMA. On December 8, the crypto's price was resisted by the 12-day EMA and price fell to continue its range bound movement.
On December 9, the crypto's price was resisted and the price is struggling between the $0.30 and the $0.31 price levels. However, if these levels are broken, the crypto will revisit its previous low.
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