XRPUSD Medium-term Trend: Ranging
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.29, $0.26, $0.24
Last week the XRPUSD pair was in the bearish trend zone. The crypto’s price had been trading below the 12-day EMA and the 26-day EMA as the bulls failed to break above the EMAs. The crypto’s price was also trading in a tight range between the levels of $0.31 and $0.33. Today, the crypto’s price is approaching the previous low of $0.29.
It was previously suggested that if the bears broke the $0.30 price level, the crypto would find support at the previous low of $0.28. Nevertheless, If the crypto does fall , traders should look out for buy setup to initiate long trades in anticipation of a bullish trend. Meanwhile, the stochastic is in the oversold region but below the 20% range which indicates that the crypto is in a strong bearish momentum and a sell signal.
XRPUSD Short-term Trend: Ranging
On the 4-hour chart, the XRP price is in the bearish trend zone. In the last one week, the crypto’s price was trading in a tight range as shown in the chart. The bulls were unable to break the $0.33 price level which was the resistance level. Also, the bears were unable to break the $0.31 price level which was the support level.
However, today the bears have broken the $0.31 and the $0.30 price levels. Nevertheless, if the bearish trend continues the support levels would be breached. Meanwhile, the stochastic indicator is in the oversold region below the 20% range which indicates that the crypto is in a strong bearish momentum and a sell signal.
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