XRPUSD Medium-term Trend: Bearish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.29, $0.27, $0.25
Last week, on February 3, the XRPUSD pair was in a bearish trend as the bears broke the 12-day EMA and the 26-day EMA. The crypto’s price fell to its low at $0.29 and commenced a range bound movement. On February 8, the bulls broke the EMAs,the bearish trend line and reached the $0.32 price level. However, there was a price pullback as the crypto’s price fell below the EMAs.
The XRP price is below the EMAs and it is likely to fall to the blue horizontal line which is the breakout point. The $0.30 price level which is the horizontal line is likely to hold . On the downside, if the price pullback to the blue horizontal line, the bullish trend is likely to resume.
On the upside, if the bulls break the EMAs and the price is sustained above the EMAs, the crypto’s price will resume its uptrend. Meanwhile, the stochastic band is out of the overbought region, but below the 40% range. This indicates that the price is in a bearish momentum and a sell signal.
XRPUSD Short-term Trend: Bearish
On the 1-hour chart, the XRP price was in the bullish trend zone. The crypto’s price reached a high of $0.32 but was resisted as the price fell to a low of $0.30.
On February 10, the bulls made another bullish movement to break the EMAs and reached a high of $0.31. Today, the XRP price is below the EMAs, which indicates that the XRP is likely to fall. Meanwhile, the stochastic band 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.
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