XRP Price Analysis – April 17

  • If a bearish trend is to continue for the crypto, it’ll drop to $0.31.
  • If the 12-day EMA support holds, the crypto's price will resume its bullish trend to test or break through the $0.33 resistance.

Ripple, XRPUSDXRP Chart by TradingView

XRPUSD Medium-term Trend: Bearish

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.33, $0.31, $0.29

The price of XRP is in a bearish trend, fluctuating over the $0.32 level. Yesterday, the crypto was in a bullish trend as its price rose to $0.3277, but soon fell back from said point.

If the bearish trend breaks XRP’s current level, it may fall to $0.30 or $0.31, while a breakout over said mark is still possible. A line was drawn to determine the potential bearish trend’s duration.

If the price breaks $0.32 and the rally holds on to the $0.33 price level the crypto's price will resume its bullish trend to test the $0.34 and $0.37 levels. The Stochastic indicator is in the oversold region but below 20, suggesting bearish momentum.

XRPUSD Short-term Trend: Bullish

Ripple, XRPUSDXRP Chart by TradingView

On the 4-hour chart, XRP is in a bullish trend. On April 16, the bulls broke the 12-day EMA but were resisted at the 26-day EMA. If a bearish trend is to continue for the crypto, it’ll drop to $0.31.

If the 12-day EMA support holds, the crypto's price will resume its bullish trend to test or break through the $0.33 resistance. The Stochastic indicator is in the oversold region but above 40which indicates that the XRP price is in bullish momentum and is a buy 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.