Ripple (XRP) Reaches $0.12 Oversold Region as Buyers Emerge
Login

Ripple (XRP) Reaches $0.12 Oversold Region as Buyers Emerge

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

Azeez Mustapha

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

XRP/USD Long-term Trend: Bearish
Ripple is presently fluctuating between $0.12 and $0.17. The market appears to have reached bearish exhaustion as the coin reached the oversold region of the market. At a low of $0.12, XRP was oversold. Consequently, the bulls emerge to push XRP upward.

The coin rises to a high of $0.15 and resumes consolidation. On the downside, as the price fell to a low of $0.12 and became oversold, a further downward move is doubtful. On the upside, if the bulls break the $0. 17 overhead resistances, XRP will resume an upward move. Meanwhile, the sideways trend may persist if the $0.17 resistance is unbroken.

XRP/USD – Daily Chart

Daily Chart Indicators Reading:
Ripple is trading above 40% range of the daily stochastic. It indicates that Ripple is in bullish momentum but the current upward move is weak. This is in view of the currently prevailing bear market. The moving averages are pointing southward.

XRP/USD Medium-term Trend: Ranging
On the 4-hour chart, Ripple is in a sideways trend as the market fluctuates between $0.12 and $0.17. Ripple was earlier oversold as the market reached bearish exhaustion. Selling pressure is unlikely as the bulls emerge at the oversold.

XRP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Ripple is now in a horizontal channel as the price fluctuates between $0.12 and $0.17. Meanwhile, Ripple is rising as it reaches level 59 of the Relative Strength index. Ripple is above the centerline 50 indicating that it is in the Uptrend zone. Nevertheless, the 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.

General Outlook for Ripple (XRP)
Ripple is at the bottom of the chart but it is trading at $0.15 as at the time of writing. The pair is likely to continue its consolidation for a few more days. Presently, the bulls are having the upper hand as the price fluctuates upwards. It is assumed that the selling pressure has been exhausted.

Ripple (XRP) Trade Signal
Instrument: XRP/USD
Order: Buy
Entry price: $0.162
Stop: $0.150
Target: $0.362

Note: Learn2Trade.com 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