XRP/USD Long-term Trend: Bearish
XRP price has twice fallen above the critical support level at $2.00 but struggles below the $2.60 barrier. The 21-day SMA barrier has stopped the upward trend at the recent high. On the plus side, XRP will return to its previous high of $3.00 if buyers maintain the price above the moving average lines. However, if the $3.00 barrier is broken, the positive momentum will continue to the high of $3.40.
On the downside, XRP will keep trading horizontally above the $2.00 mark and below the moving average lines where the bullish scenario is invalidated. The price of XRP is $2.51 as of this writing
Daily Chart Indicators Reading:
The 21-day SMA is above the price bars. The bullish momentum will continue to the 50-day SMA high if the 21-day SMA is broken above. Presently, the price bars are below the moving average lines which may cause the altcoin to fall.
Technical indicators
Key Resistance Levels: $2.50, $3.00, $3.50
Key Support Levels: $1.50, $1.00, $0.50
XRP/USD Medium-term Trend: Ranging
XRP is trending sideways. The altcoin has been stuck below the $2.60 barrier or between the lines of the moving average. Although the Doji candlesticks have limited the price movement, the cryptocurrency price is correcting upward. Presently, XRP is range-bound between the $2.00 support and below the resistance at $2.60.
4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are both heading upward as XRP corrects upward. The existence of Doji candlesticks has caused the upward correction to stop. Long candlestick wicks are heading in the direction of the $2.60 high. It indicates strong selling pressure at the most recent peak.
General Outlook for Ripple (XRP)
XRP is in the bearish trend zone but struggles below the $2.60 barrier. The bulls and bears are fighting at the 21-day SMA barrier. XRP will surpass the moving average lines if the price remains above the 20-day EMA. On the other hand, selling pressure will resume if the price declines from the 20-day EMA. The present support level at $2.00 might be breached.
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