XRP MaintainsIts Range-Bound Move Above $2.00

XRP/USD Long-term Trend: Bearish

XRP’s price remains below the moving average lines as it continues its range-bound move above $2.00.The altcoin has been trading above the $2.00 support but below the moving average lines. On June 22, the bears pulled back after breaking past the $2.00 support. XRP began to decline once more after the bullish trend hit the 21-day SMA level.

If XRP declines from the moving average lines, it will breach the crucial support level at $2.00. The bear market will continue to decline until it hits the $1.61 level.

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 price bars on the daily chart show the present sideways trend when they are below horizontal moving average lines. Due to the dominance of Doji candlesticks, the price movement has remained range-bound. A long candlestick tail breaks through the $2.00 support on June 22. Strong buying pressure is indicated by the extended candlestick tail at the $2.00 support.

XRP/USD Medium-term Trend: Ranging

The price range of XRP is limited to the $1.90 to $2.20 range. The price of cryptocurrency has dropped to $2.09, below the moving average lines. The price has resumed consolidating below the moving average lines and has halted above the $2.00 support.

4-hour Chart Indicators Reading

The downward-sloping moving average lines are above and below the price bars.This shows how the cryptocurrency is now losing ground. This shows that as the altcoin continues its range-bound movement, the moving average lines are now horizontal.

General Outlook for Ripple (XRP)

XRP rallies above the critical support level of $2.00 as it continues its range-bound move above $2.00. The altcoin is currently trading in a narrow range between the moving average lines and the $2.00 support. Since May 30, the bulls have been protecting the present support. The cryptocurrency will keep moving as long as the current support remains strong. The bullish trend will begin when buyers keep the price above the moving average lines.

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