XRPUSD Medium-term Trend: Bearish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.33, $0.31, $0.29
Yesterday, the XRPUSD pair was in the bullish trend zone. The bulls failed to break the $0.35 resistance level. However, the bullish trend has been terminated as the candlestick wick is testing the $0.33000 price level. On the downside, if the bulls fail to defend the $0.33000 price level, the crypto’s price is likely to fall to the low at $0.32600.
The XRP price will rise if the $0.33000 price level holds and more buyers are introduced at the upper price level. The crypto’s price will then retest the $0.35 price level. 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: Bearish
On the 4-hour chart, the XRP price is in a bearish trend. Yesterday, the crypto’s price reached a high of $0.34781 and a trend line was drawn to determine its duration. However, the bulls tested the $0.35 price level and were resisted. Technically, the bullish trend has been terminated.
Yesterday, a bearish candlestick broke the trend line and a confirmation candlestick closing after it. Yesterday, the bears broke the 12-day EMA and the 26-day EMA to reach the low at $0.33236. The crypto’s price was ranging below the EMAs. On the downside, if the bearish trend continues, the crypto’s price may continue its fall.
On the other hand, if the price holds at the support of $0.33 price level, the crypto’s price is likely to resume its bullish trend. Meanwhile, the stochastic indicator is in the oversold 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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