XRP/USD Price; Further Upside Likely but Uncertainty Remains

XRP/USD Price; Further Upside Likely but Uncertainty Remains

XRP/USD Market November 11

The price is targeting the resistance level of $0.26; above the mentioned level are $0.28 and $0.33 resistance levels.  Below the current price, in case the price reverses are the barriers found at $0.25, $0.23, and $0.22 support levels.

Key Levels:

Resistance levels: $0.26, $0.28, $0.33

Support levels: $0.25, $0.23, $0.22

XRP/USD Long-term Trend: Bullish

On the daily chart, XRPUSD is bullish; the bullish momentum that started last week after the coin bottomed at the support level of $0.23 still continues. It was on November 05 the bulls wage war against the bears at the support level of $0.23 with the formation of bullish engulfing candle. The candle breaks above the dynamic resistance levels. Following the scenario is the emerging of another strong bullish candle that breaks up the resistance level of $0.25, the price increases and tests $0.26 level. The price pull back to retest the broken level.

XRPUSD Daily chart, November 11

At the moment, the coin has resumed the bullish movement and is trading towards the resistance level of $0.26.  The fast SMA has crossed the slow SMA upside and the price is trading above the 9 periods EMA and 21 periods EMA to indicate bullish momentum. The price is targeting the resistance level of $0.26; above the mentioned level are $0.28 and $0.33 resistance levels.  Below the current price, in case the price reverses are the barriers found at $0.25, $0.23, and $0.22 support levels.

 XRP/USD medium-term Trend: Bullish

XRPUSD continues to increase towards the resistance level of $0.2; that is the bulls’ pressure is increasing daily. The price pulled back many times but currently targeting the resistance level at $0.26 in which it may be penetrated.

XRPUSD 4 hour chart, November 11

The crypto has penetrated the two EMAs and it is currently trading above the 9 periods EMA and the 21 periods EMA which indicates that the bulls’ pressure are increasing in the XRP market. The relative strength index period 14 is pointing up at 60 levels which connote a buy signal.

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Author : Azeez Mustapha

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