XRP Price Analysis – December 17

  • The crypto fell to the low of $0.28 but recovered at the $0.29 price level.
  • The XRP price is still  bearish in the short and the medium term trend.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Ranging

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.30, $0.28, $0.26         

Last week the XRP price was in a bearish trend. On December 15, the XRP price fell to the low of $0.28 but recovered at the $0.29 price level. Also, it was suggested that the crypto will reach the previous low of $0.24 but fell to the low of $0.28. The XRP price is still expected to revisit the previous low because the price is still below the 12-day EMA and the 26-day EMA which indicates a bearish trend.

The 12-day EMA and the 26-day EMA are pointing southward indicating that the price is expected to fall. Meanwhile, the Stochastic is in the oversold region below the 20% range which confirms that XRP has a bearish momentum and a sell signal.

XRPUSD Short-term Trend: Ranging  

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

On the 4-hour chart, the XRP price is in a sideways trend. The crypto's price had been fluctuating below the 12-day EMA and the 26-day EMA. The bulls had not been able to break the 12-day EMA and the 26-day EMA to the upside. Last week the crypto's price was resisted by the EMAs on three occasions.

The Stochastic is in the range above 40%. That is the XRP price has bullish momentum and a buy signal.

 

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