XRP Price Hovers Around Support at $0.33

Azeez Mustapha

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Ranging

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.34, $0.32, $0.30          

The XRPUSD pair is currently in a sideways trend as the price reached the oversold region of the market at $0.33. Today, as at the time of writing, the crypto's price is approaching the $0.33 price level. If the $0.33 support level is broken, the cryptocurrency will resume its downward movement.

However, the crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is likely to rise. Whereas, the Stochastic indicator is below the 20% range which indicates that price has a strong bearish momentum and a sell signal.

XRP Price Short-term Trend: Ranging   

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

On the short term trend, the XRP price is in a sideways trend. On November 25, the crypto's price fell to the low of $0.33 to form the support level of price. On November 28, the bulls reached the high of $0.40 but were resisted and this price formed a resistance level.

The crypto's price is characterized by Dojis, Spinning tops and small body candlesticks describing the indecision of buyers and sellers at the current price. However, if the bears break the $0.33 price level, the cryptocurrency will likely find support at the previous low of $0.24. On the other hand, if the bulls break the $0.40 price level, the digital currency will likely breakout to the high of $0.50.

 

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