XRPUSD Medium-term Trend: Ranging
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
Yesterday, March 13, the XRP price was in a bullish trend. In the previous day, the bulls and the bears were struggling below the 12-day EMA and the 26-day EMA at a price of $0.31. Yesterday, the XRP price had a price rally which made the crypto’s price to reach the high of $0.33 but closed at a price of $0.32.
The bulls could not sustain the price above the EMAs, probably because of lack of buyers at the $0.33 price level. Today, the bears made a downward correction which canceled the bullish gains of yesterday. The crypto’s price is back to the $0.31 price level after the downward correction.
The EMAs are trending horizontally indicating that XRP price will continue its range bound movement at the $0.31 price level. Meanwhile, the stochastic indicator is out of the overbought region but above the 40% range which indicates that the XRP price is in a bullish momentum and a buy signal.
XRPUSD Short-term Trend: Bearish
On the 4-hour chart, the XRP price is in a bearish trend. Yesterday, the bulls failed to defend the price at the $0.32 price level. The bears took price below the EMAs to continue the downward trend. The trend line shows the downward trend of the bearish trend.
The bearish trend is ongoing until price breaks above the trend line and the following candlestick closes on the opposite it. If the bearish trend continues, the crypto’s price will find support at the $0.30 price level. Meanwhile, the stochastic indicator is out of the oversold region but below the 40% range which indicates that the XRP price is in a bearish momentum and a sell signal.
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