Ripple (XRP) Is Stuck Below the $0.50 High, Upward Move Doubtful
Login

Ripple (XRP) Is Stuck Below the $0.50 High, Upward Move Doubtful

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Levels: $0.65, $0.70, $0.75
Key Support Levels: $0.45, $0.40, $0.35

XRP/USD Long-term Trend: Bullish
Today, the bulls are retesting the resistance at $0.48 to push on the upside. Yesterday, the price spike rallied to the $0.52 high but the bears push XRP to the range-bound zone. The altcoin upward move has been restricted between $0.43 and $0.50 since February 23 breakdown. Ripple, lacks buyers at a higher price level. On the upside, if the bulls break the $0.50 overhead resistance, buyers are likely to be attracted and prices will move up. XRP will rise and attain the next price level of $0.65. On the other hand, if the bears have the upper hand and break the $0.43 support, the altcoin will further decline to $0.35 low.

XRP/USD – Daily Chart

Daily Chart Indicators Reading:
The price spike broke the resistance line of the descending channel but fell back to the channel. If the price breaks above the resistance line and closed above it, it will signal the resumption of the uptrend. Also, price has partially risen above the SMAs which indicates a possible rise in price. The Relative Strength Index period 14 is at level 51. It means that there is a balance between supply and demand.

XRP/USD Medium-term Trend: Bullish
On the 4 hour chart, the coin is consolidating below the $0.48 resistance. On March 16 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that XRP will rise to level 2.618 Fibonacci extensions. That is the high of $0.67.

XRP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Ripple is below the 40% range of the daily stochastic. It means that the coin is in a bearish momentum. Nonetheless, if the bulls break the downtrend and close above it, Ripple will resume the uptrend.

General Outlook for Ripple (XRP)
Ripple is still consolidating above the $0.43 support. A break above $0.50 resistance will propel XRP to rise on the upside. A possible rise to $0.65 is likely.



You can purchase crypto coins here: Buy Coins

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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News