XRP Advances But Stalls Below $3.60

XRP/USD Long-term Trend: Bullish

XRP’s price has risen after breaking out of its range-bound movement but stalls below $3.60. The bullish trend broke the $2.65 and $3.00 barriers. The crypto price reached a high of $3.66. The altcoin has reached a new high but has now stopped below the $3.60 peak. According to the price prediction, the positive trend will continue to rise.

On the upside, if the bulls break the $3.60 barrier, the altcoin will reach the 2.618 Fibonacci extension, or $4.27 high. On the downside, XRP will revert to its range if it retraces below the $3.40 support. Meanwhile, XRP is trading below its high of $3.60. At the time of writing, the price of XRP was $3.51.

Technical indicators

Key Resistance Levels: $2.50, $3.00, $3.50
Key Support Levels: $1.50, $1.00, $0.50

Weekly Chart Indicators Reading:

Today’s candlestick features a long candlestick wick. This suggests the presence of sellers at the recent peak. If XRP fails to break the recent high, the price may fall. The price bars are now above the horizontal moving average lines after the price rebound.

XRP/USD Medium-term Trend: Bullish

On the daily chart, the altcoin is in a smooth advance after breaking above the resistance levels. The cryptocurrency price has plateaued at the $3.60 high. It is now trading above the $3.40 support and below the $3.60 resistance level. The bullish trend will resume whenever the price breaks above the $3.60 high. The altcoin will lose value if it drops below $3.40.

Daily Chart Indicators Reading

The horizontal moving average lines are sloping upward because of the recent price rebound. The 21-day SMA is above the 50-day SMA while in an upward slope. The price has risen significantly above the moving average lines to the upside.

General Outlook for Ripple (XRP)

XRP surges to a new high but stalls below $3.60. Presently, XRP is trading in the overbought region of the market. The current trend will reach bullish exhaustion if sellers emerge in the overbought region of the market. In the meantime, the crypto signal is positive as price bars remain above the moving average lines.

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