XRP/USD price Reverses at $0.22 Zone, Increasing Towards Resistance Level at $0.25
Login

XRP/USD price Reverses at $0.22 Zone, Increasing Towards Resistance Level at $0.25

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:
XRP/USD Market September 27

In case the bulls gain more strength to break up the dynamic resistance level, the $0.25 price level may not hold and the price will reach the resistance levels at $0.27 and $0.29. The bearish movement will continue if the bulls fail to break up the confluence at the $0.25 level.

Key Levels:

Resistance levels: $0.25, $0.27, $0.29
Support levels: $0.22, $0.20, $0.17

XRP/USD Long-term Trend: Bearish

XRPUSD is bearish in the daily chart. The coin has not broken up the dynamic resistance levels but struggling to break it to confirm the bullish trend. However, the bearish movement was interrupted on September 24 with the formation of a bullish reversal pattern called Tweezer bottom. The price is increasing towards the resistance level of $0.25. The increase in price is currently opposed by the dynamic resistance level.

XRPUSD Daily chart, September 27

The price action forms Doji candles trading in between the two EMAs trying to break up the 21 periods EMA after passing through the 9 periods EMA. In case the bulls gain more strength to break up the dynamic resistance level, the $0.25 price level may not hold and the price will reach the resistance levels at $0.27 and $0.29. The bearish movement will continue if the bulls fail to break up the confluence at the $0.25 level. The support levels at $0.22, $0.20, and $0.17 are the barriers to watch.

XRP/USD medium-term Trend: Bullish

XRPUSD is bullish in the 4-hour chart. Immediately after the breakout of the wedge, the bears took over the market and decline to the support level of $0.22, breaks it down but unable to sustain or maintain bearish momentum. The bulls oppose the bearish movement; the price reversed moving towards the resistance level of $0.25.

XRPUSD 4-hour chart, September 27

The 9 periods EMA has crossed the 21 periods upside and the crypto is trading above the two EMAs. The relative strength index period 14 is pointing down at 60 levels which indicates sell and it may be a pullback.

  • 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