XRP/USD Long-term Trend: Bearish
The price of XRP has dropped to a low of $1.80, or the anticipated 2.0 Fibonacci extension level. The crypto dropped to a low of $1.82 based on price action before rebounding. Bears have been unable to lower the price below the $1.80 support since April 7. Today, XRP is increasing as it remains above the $1.80 support.
If buyers sustain the price above the moving average lines, XRP will resume its bullish trend and reach a high of $3.10. However, XRP will drop to a low of $1.61 if a bearish trend persists and the $1.80 level is broken. In the meantime, XRP is rising and has reached a high of $2.05.
Technical indicators
Key Resistance Levels: $2.50, $3.00, $3.50
Key Support Levels: $1.50, $1.00, $0.50
Weekly Chart Indicators Reading:
The price bars are below the preceding uptrend, shown by the upward-sloping moving average lines. The 21-day SMA remains above the 50-day SMA, showing the previous rising trend. On November 17, a lengthy candlestick tail signals strong buying above the $180 support.
XRP/USD Medium-term Trend: Bearish
XRP is falling on the 4-hour chart. XRP is now reversing upward after breaking above the 21-day simple moving average. On the upside, if the 21-day SMA support holds, XRP will rise and cross the 50-day SMA. The positive trend will continue until the high of $2.50.
4- Chart Indicators Reading
On the 4-hour chart, the price bars are situated between the downward-sloping moving average lines. It predicts that XRP will be forced to trade in a tight range for the next few days. XRP will resume its bullish trend if buyers sustain the price above the 50-day SMA. XRP will fall if bears break below the 21-day SMA support.
General Outlook for Ripple (XRP)
The XRP price has stabilized above a low of $1.80 as it corrects higher. Currently, XRP is range-bound, above the $1.80 support but below the $2.20 high. Currently, the price movement is trapped between the moving average lines. The price of XRP has remained steady, oscillating above the $2.00 support. However, the crypto signal is moving downwards below the $2.20 barrier.
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