XRP/USD Price: Looking for Invalidation of Key Resistance Level

XRP/USD Price: Looking for Invalidation of Key Resistance Level

XRP/USD Market October 11

XRPUSD is targeting the resistance level at $0.27; above the just mentioned level are $0.29 and $0.33 price levels. Below the current price of the Crypto are $0.25, $0.22, and $0.20 support levels to face should the bears interrupt the bulls and the direction change.

Key Levels:

Resistance levels: $0.27, $0.29, $0.33
Support levels: $0.25, $0.22, $0.20

XRP/USD Long-term Trend: Bullish

On the daily chart, XRPUSD is bullish. The Bulls’ momentum is gradually increasing as the bears failed to break down the support level at $0.22. The resistance level of $0.25 has been penetrated as it was predicted a few days ago. XRP is exposing to the resistance level at $0.27 in which it may be tested provided the bears do not interrupt the bullish momentum.

XRPUSD faily chart, October 11

A high probability that the bullish momentum may continue is the emergence of the daily bullish candle that breaks up the resistance level at $0.25. The 9-days EMA is crossing the 21-days EMA upside. The price is trading above the two EMAs which connote further increase in price. XRPUSD is targeting the resistance level at $0.27; above the just mentioned level are $0.29 and $0.33 price levels. Below the current price of the Crypto are $0.25, $0.22, and $0.20 support levels to face should the bears interrupt the bulls and the direction change.

XRP/USD medium-term Trend: Bullish

On the 4-hour chart, XRPUSD is bullish. The support level at $0.22 holds the price and it bounces towards the resistance level of $0.25. The mentioned level was first tested on October 06, it has a fake break out, pulled back. Today, the price has increases to retest the $0.25 level. The price is breaking up the level at the moment.

XRPUSD 4-hour chart, October 11

The price is breaking above the 9 periods EMA and the 21 periods EMA upside which implies a further increase in XRP price. The relative strength index period 14 is pointing up at 60 levels to indicate a buy signal.

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