Annual Forecast for XRPUSD (2021): XRPUSD Expected to Reverse at $0.22 Support Level

XRP/USD Market December 24

In case the bears were able to maintain their pressure and sustain the price below the $0.28 level, then, $0.22 price level may be reached before the bulls will push up the price next year 2021.

Key Levels:

Resistance levels: $0.44, $0.54, $0.62

Support levels: $0.29, $0.28, $0.22

XRP/USD Monthly Trend: Bullish

XRPUSD is bullish in the monthly chart. The cryptocurrency commenced in the year 2020 with a consolidation movement within the $0.28 and $0.22 price levels. This scenario continues for six months. The bulls gained more energy to break up the $0.28 level in July. The price increased above the $0.29 price level. There was a sudden increase in price in November; this is seen in the monthly chart with the formation of a strong and massive bullish candle that broke up the $0.44, $0.54, and $0.62 resistance level. The price falls again sharply in December to retest the previous low at the $0.22 price level.

The price is trading below 9 periods EMA and the 21 periods EMA, the former is trying to cross the later downside. There is a possibility that the price will resume the uptrend movement next year 2021.  The relative strength index period 14 is at 50 levels bending down to indicate a sell signal. In case the bears were able to maintain their pressure and sustain the price below the $0.28 level, then, $0.22 price level may be reached before the bulls will push up the price next year 2021.

XRP/USD Weekly chart: Bearish

On the weekly chart outlook, XRPUSD is bearish. The crypto was under bullish pressure four weeks ago. The bulls pushed up the price to a resistance level of $0.73. The bears increase their momentum and the price decreases drastically to the support level of $0.28.

The price is trading below the 9 periods EMA and 21 periods EMA and the fast-moving average is crossing the slow-moving average downward. The relative strength index period 14 is bending down at 40 levels to indicate a sell signal. The price may reverse the next year 2021 provided the $0.22 level hold.