XRP/USD price Breaks Down $0.55 Support Level, $0.33 Price Level May Be Reached

XRP/USD price Breaks Down $0.55 Support Level, $0.33 Price Level May Be Reached

XRP/USD Market December 13

In case the bears were able to push the price below the support level of $0.49, then, $0.33 price level may be reached as long as the bears can push down the price to penetrate the $0.44 and $0.39 price level. The resistance level above the current price level can be found at $0.55, $0.72, and $0.79.

Key Levels:

Resistance levels: $0.55, $0.72, $0.79
Support levels: $0.49, $0.44, $0.39

XRP/USD Long-term Trend: Bearish

XRPUSD is bearish in the daily chart. The coin follows the direction displayed by the bearish candle pattern formed on December 01 called the “Tweezer top”. The bears initiated the downward movement towards the support level of $0.55. The support level of $0.55 was penetrated downside. The price has reached the support level at $0.49. A further price decrease is highly envisaged provided the support level of $0.49 does not hold.

XRPUSD Daily chart, December 13

The 9 periods EMA is trying to cross the 21 periods EMA downside to establishing a downtrend movement. However, the price already penetrates the two dynamic support level downside and the price is trading below the two EMAs. In case the bears were able to push the price below the support level of $0.49, then, $0.33 price level may be reached as long as the bears can push down the price to penetrate the $0.44 and $0.39 price level. The resistance level above the current price level can be found at $0.55, $0.72, and $0.79.

XRP/USD medium-term Trend: Bearish

On the medium-term outlook, XRPUSD is bearish. The coin was ranging the last two weeks. Last week, the bears prevailed when the bears’ pressure increased slightly above the bulls’ pressure. The steady down movement of the price breaks down the support level of $0.49.

XRPUSD 4 hour chart, December 13

The 9 periods EMA and 21 periods EMA that was interlocked before are separated currently and the price is trading below the two EMAs which indicates an increase in the bears’ momentum. The relative strength index period 14 is at 30 levels bending down to indicate a sell signal.

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.