XRP/USD Long-term Trend: Bullish
The price of XRP has resumed its upward trajectory but pauses below $3.40. The crypto’s price recovered and broke through the $2.91 resistance level. On the plus side, the market will reach its prior highs if the present positive trend is maintained. The price of XRP retraced during the December 2 surge, and the candle body tested the Fibonacci retracement level of 61.8%. This retracement suggests that XRP will continue to soar to the $4.40 high or level 1.618 Fibonacci extension.
The market is now trading at a high of $3.30 as of this writing. The high of $3.56 could provide resistance to the upward trend. The altcoin will oscillate between the resistance at $3.56 and the $2.50 support if it is rejected.
Technical indicators
Key Resistance Levels: $2.50, $3.00, $3.50
Key Support Levels: $1.50, $1.00, $0.50
Daily Chart Indicators Reading:
XRP is rising since the price bars are much above the moving average lines. The moving average lines, however, are inclined upward. A bullish crossover is indicated by the moving average lines. Bullish signals for the cryptocurrency’s ascent are indicated by the bullish crossing.
XRP/USD Medium-term Trend: Bullish
The price of XRP has started to resume its upward trajectory. The crypto price started to rise after breaking beyond the first barrier at $2.60. The upward trend has stopped after reaching a height of $3.40. XRP began to oscillate below the $3.40 barrier after retracing above the $3.16 support. It is anticipated that the altcoin would rise to a peak of $4.40.
4-hour Chart Indicators Reading
The uptrend is indicated by the moving average lines on the 4-hour chart that slope northward. The 50-day and 21-day moving average lines are above each other. The cryptocurrency’s support line is the 21-day SMA. XRP will continue to rise as long as the support line remains in place. The uptrend will cease if it breaks below the 21-day SMA support.
General Outlook for Ripple (XRP)
The price of XRP is still rising but pauses below $3.40 on January 16. The cryptocurrency has stalled below the $3.40 high, although the positive momentum is getting closer to the $3.50 high. As the altcoin keeps rising, the crypto signal is optimistic. However, the price of cryptocurrencies is fluctuating below the most recent high in anticipation of a bullish trend.
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