Ripple (XRP)Fluctuates Below $0.205 Resistance,a Breakout Likely

Ripple (XRP)Fluctuates Below $0.205 Resistance,a Breakout Likely

Key Resistance Levels: $0.30, $0.40, $0.45
Key Support Levels: $0.25, $0.20, $0.15

XRP/USD Long-term Trend: Bullish
Yesterday, the bulls made a failed attempt to breach the $0.20500 resistance level. The crypto is now on the downward move after being resisted. Since the last breakdown on May 10, the upward move has been restricted below $0.20500 resistance. The coin has been on a sideways move below the resistance. The bears are strongly defending the $0.20500 resistance. Nonetheless, if buyers succeed in breaking above the $0.20500 resistance, a rally above $0.22 is expected. The momentum will extend to a $0.23 price level. On the other hand, XRP will continue to trade below the resistance except a rebound or breakout occurs.

XRP/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the upward move. Ripple has fallen to level 50 of the Relative Strength Index period 14. It is equal to the centerline 50. Ripple is consolidating above $43.

XRP/USD Medium-term Trend: Bullish
On the 4 hour chart, the bulls have been making frantic efforts to break above the $0.20500 resistance. On May 14, the bulls were resisted as price fell to $0.197 low. Today, the bulls are testing again to the resistance level. The uptrend will continue if the bulls break the resistance level. Otherwise, the fluctuations will continue.

XRP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Ripple is below 60% range of the daily stochastic. It means that the coin is in a bearish momentum. However, this is contrary to the price action which is indicating bullish signals. Nonetheless, if the bulls break the downtrend and close above it, Ripple will resume the uptrend.

General Outlook for Ripple (XRP)
Ripple will commence an upward move if the bulls break the downtrend line or $0.20500 resistance level. The fluctuations will continue if the bulls fail to breach the resistance level.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Share with other traders!