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

27 December 2020 | Updated: 27 December 2020
XRP/USD Market December 27

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

Key Levels:

Resistance levels: $0.33, $0.39, $0.44

Support levels: $0.28, $0.22, $0.17,

XRP/USD Monthly Trend: Bullish

XRPUSD is bullish in the monthly chart. The coin was under the control of the bears at the beginning of this year. The bearish momentum placed the cryptocurrency at the support level of $0.17 and the price was consolidating at the mentioned level till June. The bulls gathered momentum in July and break up the resistance level at $0.27. Following the breakout was the formation of a strong and massive bullish candle in November and this pushes the price to break up the resistance levels of $0.44, $0.55 and $0.62.   In the month of December, the bears reacted against the price increase with the formation of another strong and massive bearish candle that pushes the price back towards the previous low at $0.27.

XRPUSD monthly chart, December 27

At the moment, 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

XRPUSD is bearish on the weekly chart outlook. The bulls pushed up the price to reach the resistance level of $0.73. The mentioned level holds and the bears take over the market with the formation of more bearish candles. The bears increase their momentum and the price decreases drastically to the support level of $0.28.

XRPUSD weekly chart, December 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.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.