XRP Rises as It Regains Support Above $2.20

XRP/USD Long-term Trend: Bullish

XRP’s price breaks above the moving average lines as it regains support above $2.20. The bulls broke above the 50-day SMA level, retested the support, and are again trending upward. The upward movement will be limited if the 50-day SMA support holds. The altcoin is anticipated to surge to a high of $2.40.

The positive momentum will continue to the high of $2.65. Meanwhile, buyers are still trying to maintain their bullish momentum above the 50-day SMA. Doji candlesticks have been used to limit price fluctuation. XRP is now trading at $2.22.

Technical indicators

Key Resistance Levels: $2.50, $3.00, $3.50
Key Support Levels: $1.50, $1.00, $0.50

Daily Chart Indicators Reading:

Buyers have driven the price above the 50-day SMA. XRP’s price should surge above the moving average lines. There is still selling pressure on the altcoin above the 50-day SMA barrier. Long candlestick wicks above the 50-day SMA indicate sell pressure. 

XRP/USD Medium-term Trend: Bearish

The XRP price has retraced and regained support above the $2.20 level, or the 50-day SMA barrier. The price movement has stopped between the moving average lines. The altcoin is projected to gain in value based on price movements. On the 4-hour chart, a break above the moving average lines will push the altcoin to a high of $2.32.

4-hour Chart Indicators Reading

The moving average lines are sloping upward, and the price bars are caught between them. The Doji candlesticks have appeared, slowing the price movement. The 21-day SMA is trending up above the 50-day SMA, providing a bullish signal.

General Outlook for Ripple (XRP)

The price of XRP is projected to surge as it regains support above $2.20. However, the price movement has always been stagnant because of the modest, unsure candlesticks. Meanwhile, the crypto signal remains optimistic, as the altcoin rises above the daily chart’s moving average lines.

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