XRP Is Range-Bound Above the $2.25 Support

XRP/USD Long-term Trend: Bearish

The price of XRP continues its range above the $2.25 support level. The crypto price has been declining since May 14 and has dropped below the moving average lines. The 50-day SMA has stopped the decline. The crypto price is below the 21-day SMA barrier but above the 50-day SMA support. Once the altcoin breaks above the 21-day SMA barrier, it will resume its bullish trend. 

Nonetheless, the bears are about to breach the 50-day SMA support. XRP will drop to a low above the $2.00 support if it breaks below the 50-day SMA. XRP is currently trading at $2.26.    

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 have trapped XRP. In an attempt to break through the 50-day SMA support, the cryptocurrency price is retesting it. The price of cryptocurrency is currently below the 21-day SMA barrier and above the 50-day SMA support.

XRP/USD Medium-term Trend: Bearish

The cryptocurrency asset was in a sideways trend before its fall. The altcoin has fallen below the 4-hour chart’s moving average lines, signaling a further collapse in the cryptocurrency. The bears have also broken through the current support level at $2.30. The bears are causing the value of the altcoin to decline to $2.00.

4-hour Chart Indicators Reading

The fall is indicated by the downward-sloping moving average lines. A bearish indication is shown by the 21-day SMA being below the 50-day SMA. It shows that XRP is likely to continue declining while it is in the bearish trend zone. Doji candlesticks are used to describe the price action.

General Outlook for Ripple (XRP)

XRP is getting closer to the bearish trend zone above the $2.25 support level. A breach below the 50-day SMA support will cause the altcoin to return to the lower price range of $2.00. Nevertheless, XRP will restart its upward trend if the altcoin drops and stays above $2.00. The altcoin will drop to $1.61 if it breaks below the $2.00 support.


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