XRP/USD price Hovers Between $0.55 and $0.63 Price Levels

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.

XRP/USD Market December 06

The breakout at the $0.55 price level will make the coin continue its bearish trend towards the support level of $0.49 to $0.44 which may extend to $0.39. The penetration of the $0.63 level upside will trigger the continuation of the bullish trend towards $0.73, $0.79, and $0.88 price levels.

Key Levels:

Resistance levels: $0.72, $0.79, $0.88

Support levels: $0.55, $0.49, $0.44

XRP/USD Long-term Trend: Ranging

XRPUSD is on the ranging mode in the daily chart. The formation of the “Tweezer top” candle pattern on December 01 is an indication that the bears are ready to take over the market. The bears initiated the downward movement towards the support level of $0.55. Along the way, the bears lose the momentum and the price decrease is hindered, likewise, the bulls’ pressure is not enough to drive the coin upside, then the price commences consolidation at $0.55 and $0.63 price level.

XRPUSD Daily chart, December 06

The 9 periods EMA and 21 periods EMA are coming close to each other and the distance between the two are becoming narrower while the price is trading between the two.  The breakout at the $0.55 price level will make the coin continue its bearish trend towards the support level of $0.49 to $0.44 which may extend to $0.39. The penetration of the $0.63 level upside will trigger the continuation of the bullish trend towards $0.73, $0.79, and $0.88 price levels.

XRP/USD medium-term Trend: Ranging

On the medium-term outlook, XRPUSD is ranging. The bullish movement that commenced on November 27 could not continue due to weakness in the bulls’ momentum. The bears’ pressure is equally weak at the moment in the 4-hour chart. In other words, the momentum of Bulls and Bears are at equilibrium.

XRPUSD 4 hour chart, December 06

The 9 periods EMA and 21 periods EMA are interlocked to each other and the price is trading over and around the two EMAs. The relative strength index period 14 is moving zigzag showing no specific direction, this indicates that consolidation is ongoing in the XRP market.

  • 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 *