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 its confined range of $.30 and $0.33. The 12-day EMA and the 26-day EMA are horizontally flat indicating that the price is in a range bound movement. The crypto’s price above the EMAs was closing at a price of $0.32 while the prices below the EMAs were closing at a price of $0.30 and $0.31.
This explains that the XRP price was in a tight range between the levels of $0.30 and $0.33. The XRP price is likely to face an imminent price breakout or price breakdown. Presently, the crypto’s price is trading at the $0.32 price level. On the upside, if the crypto’s price faces a price breakout, the bulls will break the $0.34 price level and reach a high of $0.35.
On the downside, the price is currently declining and a price breakdown will enable the bears to break the $0.30 price level and reach the low at $0.28. 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 is still in a range bound movement. Yesterday, the crypto’s was trading below 12-day EMA and the 26-day EMA. However, the bulls broke above the EMAs but the bears pulled back price below the EMAs. The crypto’s price is ranging below the EMAs.
Meanwhile, the stochastic indicator is at the oversold region but below the 40 % range which indicates that the XRP price is in a 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.
