XRPUSD Medium-term Trend: Ranging
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
From the daily chart, the XRP price is in a range bound movement. The 12-day EMA and the 26-day EMA are trending horizontally as a single line indicating that the price is in a tight range. The price of XRP is consolidating at the $0.31 price level in the last four days.
Yesterday, the bulls made a bullish movement but were resisted at the $0.31 price level. Today, the bulls and the bears are struggling at the $0.31 price level. The crypto’s price is below the EMAs which indicates that the price is likely to fall. On the downside, if the price falls, the crypto’s price will retest the $0.30 price level.
On the upside, if the bulls break above the EMAs, the crypto’s price will be in the bullish trend zone. We expect the price to revisit the highs of $0.33 and $0.34. Meanwhile, the stochastic indicator is out of the overbought region but below the 40 % range which indicates that the XRP price is in a bearish momentum and a sell signal.
XRPUSD Short-term Trend: Ranging
On the 4-hour chart, the XRP price is in a sideways trend. Yesterday, the crypto’s price fell to the low at $0.31. The bulls made a pull back but were resisted by the 12-day EMA which led to the range bound movement. A price breakout or breakdown is imminent as the crypto ranges.
The crypto’s price has a high chance of falling in the bearish trend zone. Meanwhile, the stochastic indicator is out of the oversold region but above the 40 % range which indicates that the XRP price is in a bullish momentum and a buy signal.
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