XRP/USD Long-term Trend: Bearish
The XRP price movement has been consistent as it drifts laterally above $2.00. If buyers break through the 21-day SMA barrier, XRP will reach a high of $2.26 or the 50-day SMA barrier. Today, XRP is falling as buyers fail to sustain the price above the 21-day SMA level. The cryptocurrency will drop to a low of $1.90. If the current support is breached, the altcoin will fall even lower to $1.82. Since November 21, the cryptocurrency has been trading in a range above the $1.80 support and below the 21-day SMA barrier. Today, XRP trades at $2.06.
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 lengthy candlestick wicks crossing the 21-day SMA indicate heavy selling pressure at the 21-day SMA barrier. As the present slide continues, the 21-day and 50-day SMAs are on a downward slope. The price bars are rejected by the downward-sloping moving averages.
XRP/USD Medium-term Trend: Ranging
XRP is trading in a confined range, above the $2.00 support and below the $2.25 resistance level. The cryptocurrency asset has slipped below its moving average lines. The bearish momentum will extend until the critical support level of $2.00. XRP will bounce and restart its upward trend each time the crucial support is retested.
4- Chart Indicators Reading
On the 4-hour chart, the price moves both below and above the horizontal moving average lines. The horizontal 21-day and 50-day SMAs show a lateral trend for XRP. Doji candlesticks represent price movements.
General Outlook for Ripple (XRP)
XRP has been trading above the $1.80 support level as it drifts laterally above $2.00. The price of XRP has stayed stable as it continues its sideways move.The formation of Doji candlesticks has slowed the cryptocurrency price. Meanwhile, the crypto signal is range-bound, as traders remain unsure of the market’s direction.
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