XRP Upward Move Is Weak as It Encounters Resistance at $0.23

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.

Key Resistance levels: $0.30, $0.40, $0.45
Key Support Levels: $0.25, $0.20, $0.15

XRP/USD Long-term Trend: Bullish
For the past 5 days, XRP is making a slow but steady upward move. On the first day, the price rose from $0.20 to $0.22 but the coin pulled back to $0.21. Today, the price has jumped above the $0.23 price level but pulled back to the low of $0.23. XRP is now facing some resistance near the price of $0.23500. This resistance is the previous support in September. A break above $0.23500, will see the coin rallying above $0.24 price level.

XRPUSD -Daily Chart

Daily Chart Indicators Reading:
The XRP market is above 20% range of the daily stochastic indicator. This means that the market is in bullish momentum. The 50-day SMA and 21-day SMA are pointing southward negating the price action.

XRP/USD Medium-term Prediction: Bullish
On the 4-hour chart, the coin has moved to a bullish trend. The XRP is currently retracing after testing a resistance above $0.23

XRPUSD_4-Hour Chart

4-hour Chart Indicators Reading
The bullish candlestick breaks above the 21-day SMA and 50-day SMA; this indicates that XRP is rising. The RSI period 14 level 59 indicates that the price is above the centerline 50. XRP is rising and approaching the bullish trend zone.

General Outlook for Ripple (XRP)
XRP is rising and in a bullish trend. The upward move is likely to be sustained if the price remains above the EMAs. In other words, if the price is above the resistance line, the upward move will be sustained. However, if the price drops below these levels; the selling pressure will resume.

Ripple (XRP) Trade Signal
Instrument: XRPUSD
Order: buy Limit
Entry price: $0.22
Stop: $0.15
Target: $0.30

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *