XRP/USD price May Continue Bearish Trend, Aiming at $0.20 Price Level

XRP/USD price May Continue Bearish Trend, Aiming at $0.20 Price Level

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.

XRPUSD Daily chart, September 13

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.

XRPUSD 4-hour chart, September 13

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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