XRPUSD Medium-term Trend: Ranging
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.36, $0.34, $0.32
Yesterday, January 8, the XRP price was in a bullish trend as the crypto closed at a price of $0.37. Today, the crypto is likely to make an upward movement above the $0.37 price level. The crypto's price is currently above the 12-day EMA and the 26-day EMA which indicates that the price is likely to rise.
As buyers pushed the price upward, small body candlesticks like Doji and spinning tops continue to form which described the indecision of buyers and sellers at the current price level. Meanwhile, the exponential moving averages, the 12-day EMA and the 26-day EMA continue to flatten indicating a sideways trend.
However, if the current bull's movement breaks the $0.38 price level, the crypto will reach the highs of $0.40 and $0.50. Meanwhile, the stochastic is out of the oversold region but above the 40% range which indicates that the crypto is in a bullish momentum and a buy signal.
XRPUSD Short-term Trend: Ranging
On the 4-hour chart, the XRP price is in the sideways trend. The crypto's price is above the 12-day EMA and the 26-day EMA. Here, the presence of Doji and spinning tops are prominent as the buyers and sellers are undecided about the direction of the market. In the last 24 hours, the crypto's price was ranging at the $0.37 price level.
Meanwhile, the stochastic is out of the overbought region but below the 60% range which indicates that the crypto is in a bearish momentum and has a sell signal.
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