XRP/USD Market September 13
The bulls may push up the coin to break up the resistance level at $0.26 and expose the coin to $0.29 and $0.33 price levels. Should the bears defend the resistance level of $0.26, it may continue in a bearish trend which may break down the $0.21 support level and further decrease may reach $0.20 and $0.17.
Key Levels:
Resistance levels: $0.26, $0.29, $0.33
Support levels: $0.21, $0.20, $0.17
XRP/USD Long-term Trend: Bearish
XRPUSD is bearish in the long – term outlook. The crypto found support at $0.21 price level on September 05. It consolidates for some days at the same level. The bears find it difficult to break down the $0.21 price level. The bulls are gathering momentum gradually to push up the price. The price is currently testing the dynamic support level of 21 periods EMA after it penetrates the 9 periods EMA.
XRP is directly in contact with the two EMAs trading below 9 periods EMA and 21 periods EMA at a close range which indicates that the bears may take over the XRP market soon. The bulls may push up the coin to break up the resistance level at $0.26 and expose the coin to $0.29 and $0.33 price levels. Should the bears defend the resistance level of $0.26, it may continue in a bearish trend which may break down the $0.21 support level and further decrease may reach $0.20 and $0.17.
XRP/USD medium-term Trend: Bearish
The bears are still keeping XRP/USD under their pressure, that is, the coin is bearish in the 4-hour chart. In the earlier hour of today’s market, the crypto increases towards the resistance level at $0.26. The bears interrupted the price increase with the formation of an evening star candle pattern. The price changes direction and breaks down the dynamic support levels.
The coin is trading below the two EMAs and the 9 periods EMA crossing the 21 periods EMA downside, which indicates an increase in the bears’ momentum. The support level at $0.21 may be penetrated.
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