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
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.
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