XRP/USD Long-term Trend: Bearish
The price of XRP breaks below the moving average lines and is range-bound above the $2.00 support. The moving average lines have impeded the altcoin’s upward trajectory. XRP retreated and dropped below the moving average lines. XRP stabilizes above the $2.00 support but below the moving average lines after its fall. If the current support holds, the altcoin will start to fluctuate again.
XRP will rise in order to retest the 21-day SMA barrier. The bullish trend will resume if there is a break above the moving average lines. On the downside, if XRP breaks through the $2.00 support, it will drop to the previous low above $1.78.
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 horizontal moving average lines are above the price bars. The extended candlestick tail of XRP is pointing in the direction of the $2.00 support. A bearish signal is indicated when the 21-day SMA crosses below the 50-day SMA. Doji candlesticks have emerged after the altcoin’s consolidation has restarted.
XRP/USD Medium-term Trend: Ranging
The cryptocurrency asset is correcting higher after dropping to the lower price range. XRP’s movement has been range-bound, ranging from the $2.10 level to below the resistance at $2.80. The current range-bound move is below the moving average lines and above the $2.10 support.
4-hour Chart Indicators Reading
The slope of the 21-day and 50-day SMAs is horizontal. However, the fact that the 21-day SMA is below the 50-day SMA indicates the decline. The altcoin’s decline has stopped above the $2.10 mark as it corrects upward. The Doji candlesticks have appeared as the altcoin trades a little.
General Outlook for Ripple (XRP)
XRP has reached bearish exhaustion, as it remains range-bound above the $2.00 support. The altcoin is consolidating below the moving average lines but above the current support. The digital asset is presently trading in the midst of the price range as it runs into resistance at the moving average lines. The cryptocurrency signal is most likely going to stay range-bound for a few more days as long as it stays above the $2.00 support.
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