XRP Trades Sideways above the $2.20 Support

XRP/USD Long-term Trend: Bearish

The price of XRP drops and trades sideways above the $2.20 support. The crypto’s price is consolidating below the moving average lines but above the $2.20 support. Doji candlesticks, which limit and move the altcoin sideways, have dominated the price movement. The Doji candlesticks clarify that traders are unsure of XRP’s next course.

The candlestick wicks pointing at the moving average lines suggest that XRP will be rejected at those lines on the upside. The current support has been shielded by the bulls, thus XRP will continue to move sideways.XRP is now worth $2.43.

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 price movement has stayed steady below the moving average lines, which are horizontal as the altcoin moves laterally. The selling pressure has lessened as the Doji candlesticks show up. The price bars of XRP are consolidating below the moving average lines.

XRP/USD Medium-term Trend: Ranging

XRP is in a sideways trend after its rebound above the $2.20 barrier. The price of cryptocurrencies is oscillating below and above the moving average lines. The altcoin trades above the $2.20 support but below the resistance at $2.60. The price stays constant because the Doji candlesticks dominate the price activity.

4-hour Chart Indicators Reading

Strong buying pressure above the $2.20 support is shown by the extended candlestick tails. The Doji candlesticks have kept the price action stagnant, and the 21-day and 50-day SMAs are sloping horizontally, indicating a sideways trend.

General Outlook for Ripple (XRP) 

XRP is moving sideways as it trades sideways above the $2.20 support.Traders’ uncertainty about the market’s direction led to the creation of the Doji candlesticks. The altcoin will rise again when buyers keep the price above the moving average lines. The existence of Doji candlesticks makes the crypto signal range-bound.


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