XRPUSD Medium-term Trend: Bearish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.33, $0.31, $0.29
The XRPUSD pair is in the bullish trend zone as the bulls broke the $0.33 and $0.34 price levels. The crypto’s price is making a series of higher highs and higher lows. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that the price is likely to rise.
The crypto’s price has risen to a high at $0.35 but is retracing from the recent high. A trend line has been drawn to determine the duration of the bullish trend. On the daily chart, if a bearish candlestick breaks the trend line and another confirmation candlestick closes on the opposite it, the trend line is said to be terminated.
Presently, the XRP price is currently trading at $0.34194. On the upside, if the bulls sustain a price above the $0.34 price level and the EMAs, the crypto’s price will rise to break the $0.35 and $0.36 resistance levels and probably reach the $0.37 price level.
On the downside, if the price retraces and falls below the $0.34 price level the crypto’s price level is likely to resume a downward trend. Meanwhile, the stochastic is in the oversold region but above the 20% range. This indicates that the XRP price is in bullish momentum and a buy signal.
XRPUSD Short-term Trend: Bullish
On the 4-hour chart, the XRP price is in a bullish trend. Yesterday, the bulls broke the 12-day EMA and the 26-day EMA to test the $0.35 price level. The price is retracing from the $0.35 price level. If the retracement falls to the support of the EMAs and the support level holds, the crypto’s price will resume its bullish trend.
On the other hand, if the bears break below the EMAs, the crypto’s price is likely to resume a downward trend. Meanwhile, the stochastic indicator is in the overbought region but above the 80% range which indicates that the XRP price is in a bullish momentum and a buy signal.
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