XRP Holds above $3.00 as Its Upward Trend Continues

XRP/USD Long-term Trend: Bullish

XRP’s upward trend continues despite encountering resistance at $3.40. The altcoin is now trading above the $3.00 support but below the $3.50 high. Buyers have been unable to continue their bullish momentum above the $3.40 resistance level. On the upside, XRP’s bullish trend will begin whenever it breaks above $3.40. The positive momentum will continue to the high of $4.50. Nevertheless, according to the price indication, XRP will reach the 1.618 Fibonacci extension or $4.38 high.

Meanwhile, XRP is trading above the $3.00 support level, indicating that it will continue to rise. The altcoin is valued at $3.16 at the time of writing.

Daily Chart Indicators Reading: 

XRP is still trading in the positive trend zone, with price bars above the moving average lines. The moving average lines are sloping north, showing the present trend. The altcoin’s candlesticks have extended wicks, alluding to its recent peak. It denotes intense selling pressure at higher price levels.

XRP/USD Medium-term Trend: Ranging

On the 4-hour chart, XRP is in a sideways trend following the end of the uptrend at $3.40. The altcoin trades between $3.00 and $3.40, with the latter being below the former. The bullish trend will resume above the $3.40 high, and the altcoin will fall if it loses the $3.00 support.

4-hour Chart Indicators Reading

The 21-day and 50-day SMAs are sloping horizontally, indicating a sideways trend. The rise has come to a halt at the high of $3.40, causing the altcoin to resume its range-bound movement. The price bars slope below and above the horizontal moving average lines.

General Outlook for Ripple (XRP) 

XRP’s upward trend continues after the sideways swing. The price indicator indicated that the coin was moving upward. Meanwhile, the crypto signal will be bullish if the bulls hold the $3.00 support. The extended candlestick tails pointing to the $3.00 support signal significant buying pressur

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