XRP/USD Long-term Trend: Bearish
The XRP price remains above the $2.00 low as bulls and bears compete for price possession at the 21-day SMA level. On December 1, the bears broke below the resistance, bringing the price to a low of $1.98. Today, bulls bought dips and rose above the moving average lines. On the upside, XRP will rise if the cryptocurrency price remains above the 21-day SMA support. XRP will reach a high of $2.40, or the 50-day SMA barrier.
However, XRP will continue to fall if the cryptocurrency price falls below the 21-day SMA threshold. XRP will drop to a low of $1.82. Today, the upward trend has hit a peak of $2.18.
Technical indicators
Key Resistance Levels: $2.50, $3.00, $3.50
Key Support Levels: $1.50, $1.00, $0.50
Daily Chart Indicators Reading:
The moving average lines are in a downward slope while the price bars are below it. Presently, the bulls and bears are battling at the 21-day SMA barrier to take possession of the price. The price bars are characterized by Doji candlesticks, which cause the altcoin to be range-bound. The price movement has remained stationary because of the creation of Doji candlesticks.
XRP/USD Medium-term Trend: Ranging
The XRP price has stalled its decline above $1.85, indicating a sideways trend. Since November 21, the altcoin has been trading above the $1.85 support and below the $2.30 high. The price has held steady above the moving average lines, but it confronts rejection at the recent high.
4- Chart Indicators Reading
On the 4-hour chart, the 21-day and 50-day SMAs are horizontal, indicating a sideways trend. The price bars have remained above the moving average lines and are currently consolidating above them. The 21-day SMA is lower than the 50-day SMA, suggesting the preceding fall.
General Outlook for Ripple (XRP)
The XRP price fluctuates both below and above the 21-day SMA barrier as it stays above the $2.00 low. The cryptocurrency price is consolidating above the $2.00 support level after forming Doji candlesticks. Traders are unsure of the market’s direction. The existence of Doji candlesticks limits the crypto signal’s range.
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