XRPUSD Medium-term Trend: Ranging
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.36, $0.34, $0.32
Currently, the XRPUSD pair is ranging between the levels of $0.33 and $0.38. The 12-day EMA and the 26-day EMA are horizontally flat indicating the sideways trend. The crypto’s price now fluctuates below and above the 12-day EMA and the 26-day EMA indicating that the price is in a range bound movement.
Meanwhile, the stochastic is out of the overbought region but above the 20% range which indicates that the crypto is in a bullish momentum and a buy signal.
XRPUSD Short-term Trend: Bearish
On the 4-hour chart, the XRP price is in the bearish trend zone. In the lower time frame, the XRP price tested and was resisted at the $0.38 price level. At each resistance, the crypto falls to the bearish trend zone. On January 7, when the crypto fell to the bearish trend zone, it traded at the low of $0.36 price level.
The cryptocurrency is now struggling to break above the 12-day EMA and the 26-day EMA. On the downside, if the crypto’s price is being resisted by the EMAs, and the crypto falls below the $0.36 price level, the XRP price will find support at the $0.33 or the $0.34 price levels. Meanwhile, the Relative Strength Index Period 14 is level 46 which indicates that the price is in a sideways trend.
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