XRPUSD Medium-term Trend: Bullish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.35, $0.33, $0.31
Last week, the XRP price was in a bullish trend. On April 2, the crypto’s price had a price breakout that eliminated the resistance levels of $0.32, $0.33 and $0.34 in the previous price range. The price rally reached a high of $0.36226 but the crypto’s price made a downward correction to the support of the 12-day EMA.
On April 5, at the support of the 12-day EMA, the bulls resumed the bullish trend. The crypto’s price reached a high of $0.38353 but the price closed at the $0.36635 price level. Today, the XRP price is ranging above the $0.35 price level but above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.
On the upside, if the price is sustained above the EMAs, the bulls will break the $0.37 and $0.38 resistance levels. This will see the crypto’s price trading above the $0.40 price level. On the other hand, if price retraces and breaks below the EMAs, the crypto’s price will fall.
Meanwhile, the stochastic is in the overbought region but above the 60% range. This indicates that the XRP price is in a bullish momentum and a buy signal.
XRPUSD Short-term Trend: Ranging
On the 4-hour chart, the XRP price is in a sideways trend zone. Last week, April 3, the bulls tested the $0.37 price level and were resisted. The bulls have tested the $0.37 price level for the fifth times but on each occasion, the price falls to the support of the EMAs.
Today, the price is retracing after testing the $0.37 price level. If price breaks the $0.37 price level, the crypto’s price is likely to face another resistance at the $0.38 price level. Meanwhile, the stochastic indicator is out of the overbought level region but below the 60% range which indicates that the XRP price is in a bearish momentum and a sell signal.
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