XRP Holds and is Stable above $2.00

XRP/USD Long-term Trend: Bullish

The price of XRP has returned above its moving average lines since January 12 and is stable above $2.00. The cryptocurrency is now trading above the 50-day SMA support but below the resistance at $2.40. For the past 48 hours, bulls and bears have battled for control of the price above the 50-day SMA support. Doji candlesticks have delayed price movement.

Today, the 50-day SMA support is holding as the XRP price moves higher. If the positive momentum continues, XRP will rise and reach $2.40. Conversely, if bears drive the price below the moving average lines, XRP will fall to a low of $1.82. Currently, the cryptocurrency price has held stable above the 50-day SMA support or the $2.00 low.

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 cryptocurrency price has halted its decline above the 50-day SMA support. On the downside, if the 21-day SMA breaks above the 50-day SMA, the uptrend will resume. Meanwhile, the 21-day and 50-day moving average lines are still sloping downward, indicating a decline. Doji candlesticks have been used to characterize price movements.

XRP/USD Medium-term Trend: Bearish

XRP is dropping below the moving average lines. The altcoin is trading in a confined range, above the $2.00 support but below the moving average lines. The cryptocurrency price is climbing as buyers seek to hold it above the moving average lines. On the downside, selling pressure has paused above the present support level as XRP consolidates.

4- Chart Indicators Reading

The moving average lines are horizontal, with the 21-day SMA below the 50-day SMA, indicating a decline. The Doji candlesticks have been stationary below the moving average lines. The 21-day SMA is restricting the cryptocurrency’s upward movement. If buyers are unable to sustain the price above the 21-day SMA, the range-bound trend will continue.

General Outlook for Ripple (XRP)

The XRP price is in a downturn and is stable above $2.00 l. On the 4-hour chart, the price has remained above the $2.00 support but below the moving average lines. On the downside, XRP will fall to a low of $2.00 if the crypto price falls below the moving averages.

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