XRPUSD Medium-term Trend: Bearish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
Last week, January 10, the XRP price was in the bearish trend zone, as the bears broke the 12-day EMA and the 26-day EMA. The crypto's price fell to the lows of $0.33 and $0.32 price levels and it commenced a bullish movement. If the crypto's price is still within the bearish trend zone, the XRP price may likely revisit the previous lows of December 15 and September 11.
In the other words, if the bears break the $0.30 price level, the crypto will find support at either $0.29 or $0.26 price level. Traders should initiate long trades if the price falls to the lows of either $0.29 or $0.26 price level. Meanwhile, the stochastic is in the oversold region but below the 20% range. This indicates that the XRP price is in a strong bearish momentum and a sell signal.
XRPUSD Short-term Trend: Bearish
On the 4-hour chart, the XRP price is in the bearish trend zone. On January 10, the bears broke the 12-day EMA , the 26-day EMA and the price fell to the low of $0.33. The crypto's price commenced a range bound movement for three day s before being resisted by the 12-day EMA. The XRP price fell again to the low of $0.32.
The crypto's price is making a bullish movement and testing the 12-day EMA. Meanwhile, the stochastic indicator is out of the oversold region but above the 20% range indicating that the XRP price is in a bullish momentum and a buy signal.
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