XRP Continues Its Range but It Hits the $2.40 Mark

XRP/USD Long-term Trend: Bearish

The price of XRP (XRP) corrects upward but hits the $2.40 mark. On March 11, the negative trend broke below the $2.00 level and then retreated. The upward correction has been stopped by the 21-day SMA barrier. Positively, if buyers are unable to keep the price above the moving average lines, XRP will need to make a range-bound move below the moving average lines but above the $2.00 support.

The bulls have been defending the $2.00 support since it fell to $1.91. On the plus side, if XRP breaks above the moving average lines, it will rise to $3.00. The restoration of upward momentum will be indicated if the $3.00 barrier is broken. The bulls are currently having difficulty maintaining the price above the 21-day SMA. The value of XRP is $2.31.

Technical Indicators

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

Daily Chart Indicators Reading: 

The moving average lines stay horizontal because of the sideways trend between the $2.00 support and below the $3.00 resistance. The price bars fluctuate above and below the moving average lines. The price movement has been delayed by the Doji candlesticks.

XRP/USD Medium-term Trend: Ranging

On the 4-hour chart, XRP is correcting upward while it continues its range between $2.00 and $2.60. The crypto price has broken above the moving average lines and may continue its rise to the high of $2.60. The price movement has been limited by the Doji candlesticks.

4-hour Chart Indicators Reading

XRP is reversing upward on the 4-hour chart as it maintains its range between $2.00 and $2.60. The crypto’s price has risen above the 21-day and 50-day SMAs and could reach a peak of $2.60. The Doji candlesticks have restricted the price movement.

General Outlook for Ripple (XRP) 

Since March 3, XRP’s price has been below the moving average lines but hit the $2.40 mark. The altcoin trades below the moving average lines and above the $2.00 support in a limited range. If XRP breaks below the 21-day SMA barrier, it will fall. A further drop to a low of $1.78 will occur if the price breaks below the $2.00 support.


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