XRP/USD Price Is Targeting Resistance Level of $0.28

XRP/USD Price Is Targeting Resistance Level of $0.28

XRP/USD Market November 15

The price may reach the resistance level of $0.28 provided the bulls increase their pressure, in case the mentioned level does not hold the resistance level of $0.33 and $0.36 may be tested. Should the bears exert more pressure, the support level of $0.26 may be penetrated and the support levels of $0.25 and $0.23 may be reached.

Key Levels:

Resistance levels: $0.28, $0.33, $0.36
Support levels: $0.26, $0.25, $0.23

XRP/USD Long-term Trend: Bullish

XRPUSD is bullish in the daily chart; the bulls hold tight to the XRP market, bullish momentum is increasing daily. The price closed below the support level of $0.25 last week. The bullish momentum has broken up the former resistance level of $0.26 and it is increasing towards the resistance level of $0.28. Today, the price is carrying out a retest as it is a normal phenomenon in a trending market. After the retracement, bullish movement may continue.

XRPUSD Daily chart, November 15

The 9 periods EMA has crossed 21 periods EMA upside and the price is trading above the two EMAs at a distance indicates that the bulls are dominating the market. The price may reach the resistance level of $0.28 provided the bulls increase their pressure, in case the mentioned level does not hold the resistance level of $0.33 and $0.36 may be tested. Should the bears exert more pressure, the support level of $0.26 may be penetrated and the support levels of $0.25 and $0.23 may be reached.

XRP/USD medium-term Trend: Bullish

XRPUSD is under the control of the bulls. That means the coin is bullish in the 4-hour chart. The bulls pushed up the price to break up the $25 and the $26 resistance levels. It is already exposed to the resistance level of $0.28 in which it may be tested.

XRPUSD 4-hour chart, November 15

The relative strength index period 14 is pointing down below 60 levels which connote a sell signal and it may be a pullback. 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 is increasing in the XRP market. The bullish movement may continue.

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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.