XRP Soars as It Hits Its January 2018 Price Level

XRP/USD Long-term Trend: Bullish

The XRP price returns from its slump as it hits its January 2018 price level. The cryptocurrency price broke through the moving average lines and the overhead resistance level of $0.64. Today, XRP reached a high of $2.87 before declining. On December 2, the bullish trend stalled near the $3.00 resistance zone. XRP is currently making a modest downward retracement.

On the December 2 rally, a retraced candle body tested the 78.6% Fibonacci retracement line. LTC will rise before reversing at the 1.272 Fibonacci extension if the present retracement holds. Meanwhile, the altcoin is hovering above the $2.00 support. The altcoin is currently worth $2.36.

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 are sloping up, indicating an upward trend. XRP is showing bullish signals as the 21-day SMA crosses above the 50-day SMA. The price bars have retraced above their moving average lines. The uptrend will continue as long as the price bars are above the moving average lines.

XRP/USD Medium-term Trend: Bullish

On the 4-hour chart, XRP is declining between the moving average lines but remains above the 50-day SMA. On the downside, if the bears breach below the 50-day SMA, selling pressure will resume. The altcoin will resume a bullish trend if buyers sustain the price above the 21-day SMA.

4-hour Chart Indicators Reading

On the 4-hour chart, the price bars are positioned between the moving average lines. This means that the altcoin will be forced to move in a limited range for a few days. The uptrend will restart whenever the price breaks above the 21-day SMA.

General Outlook for Ripple (XRP) 

XRP rebounds from its downturn as it hits its January 2018 price level. XRP peaked at $3.30, triggering a continuation of selling pressure. Today, the altcoin stalled above the $2.00 support in expectation of the cryptocurrency’s continued upward rise. The crypto signal is encouraging, since the altcoin is trading in a bullish trend zone.

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