XRP/USD Long-term Trend: Bullish
The XRP price has paused its positive trend as traders show indifference. The altcoin is predicted to surpass the $3.30 historical price milestone in January 2018. Buyers have failed to maintain bullish momentum above the $3.00 barrier mark. For the past week, the altcoin has fluctuated above the moving average lines but below the $3.00 resistance level.
On the upside, a break above $3.00 will take the altcoin to its previous high of $3.30. On the downside, a break below the 21-day SMA will cause the altcoin to fall above the 50-day SMA, or $1.50 low. XRP is currently worth $2.40.
Key Resistance Levels: $2.50, $3.00, $3.50
Key Support Levels: $1.50, $1.00, $0.50
Daily Chart Indicators Reading:
On the daily chart, XRP is trading above the 21-day SMA in expectation of a bullish trend. The 50-day and 21-day SMAs are rising upward, reflecting the present trend. The present trend will stop if the bears break below the 21-day SMA. The two lengthy tails point above the 21-day SMA. The extended candlestick shows significant buying pressure above the 21-day SMA.
XRP/USD Medium-term Trend: Bullish
On the 4-hour chart, XRP is in a sideways trend following the stoppage of the uptrend. The altcoin trades above the $2.00 support and below the $2.60 resistance level. The existence of the Doji candlestick has caused the price movement to remain static above the moving average lines.
4-hour Chart Indicators Reading
On the 4-hour chart, the price bars move both below and above the horizontal moving average lines. It implies that the altcoin has entered a sideways trend since the end of the bullish trend on December 2. The price action is dominated by a small body, indecisive candlestick known as a Doji.
General Outlook for Ripple (XRP)
On the daily chart, the altcoin fluctuates above the 21-day SMA support as traders show indifference. The altcoin is currently in a sideways trend, attempting to restart its upward trend. Currently, the crypto signal is range-bound as XRP consolidates above the $2.00 support. Bulls and bears are unsure about the cryptocurrency’s next move.
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