XRP/USD Long-term Trend: Bearish
XRP’s price has progressively fallen below $2.75 level after reaching resistance at $3.64. The price was driven up by buyers after it had dropped. The upward corrective was short-lived, as XRP was rebuffed at its $3.38 high. This second rejection indicates that XRP will continue to fall to the downside. The altcoin is below the moving average lines on a time period, which signifies a decrease in the cryptocurrency.
The price indication has suggested a possible decline to the $1.85 low, or the 2.0 Fibonacci extension. However, XRP has dipped, although it remains above the $2.70 support level. If the current price is breached, the cryptocurrency will decrease. The current value of XRP is $2.83.
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 heading downward, towards the moving average lines. If the price falls below the 21-day SMA, selling pressure will continue. The long candlestick wicks are pointing across $3.60, indicating strong selling pressure at the recent peak. Furthermore, long candlestick tails are heading across the $3.00 support, indicating strong buying demand at the current support.
XRP/USD Medium-term Trend: Bearish
Since August 22, XRP has fallen below the moving average lines and reached a low of $2.78. For the past week, XRP has traded above the $2.75 support level and below the $3.10 resistance level or the moving averages. Bears have pushed the price down to a lower range. There will be more selling pressure if the bottom price range is broken.
4- Chart Indicators Reading
The moving average lines are sloping lower, signaling the downtrend. There is a positive indication when the 21-day SMA is below the 50-day SMA. The price bars are moving steadily as the Doji candlesticks appear, causing the altcoin to resume a range-bound move. The moving average lines are sloping lower, signaling the downtrend. The price bars are moving steadily as the Doji candlesticks appear, causing the altcoin to resume a range-bound move.
General Outlook for Ripple (XRP)
The price of XRP steadily declines below the $2.75 level as per the price prediction. Bulls are defending the lower price range of $2.75, while bears retest the existing support. The crypto signal is bearish, as the altcoin falls below the moving average lines.
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