XRPUSD Medium-term Trend: Ranging
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
Yesterday, March 18, the XRP price was declining while in a range bound movement. It appears the crypto’s price is likely to depreciate further. Yesterday, the crypto’s price fell to a low at $0.31302. Today, the XRP price is approaching the low at $0.31223.
From its range-bound movement, the crypto’s price is expected to test the $0.30 lower price range. From the daily chart, the bulls made concerted efforts to break the $0.32 resistance level but failed. From the first arrow on your left to the last arrow on your right, the crypto’s price fell below the EMAs after each resistance.
On March 16, from the last arrow, the bulls tested the $0.32 resistance level; and the crypto’s price is likely to fall below the 12-day EMA and the 26-day EMA. In other words, the crypto’s price is likely to fall to a low at $0.31000. Meanwhile, the stochastic indicator is out of the oversold region but below the 80 % 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 was in a range bound movement. On March 18, the bears broke the 12-day EMA and the 26-day EMA to reach the bearish trend zone. The crypto’s price fell to a low at $0.31 and commenced a range bound movement.
The XRP price is below the 12-day EMA and the 26-day EMA which indicates that the crypto’s price is likely to fall. Meanwhile, the stochastic indicator is at the oversold region but below the 20% range which indicates that the XRP price is in a strong bearish momentum and a sell signal.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
