XRP/USD Price Looks Ready to Continue Higher

XRP Weekly Price Analysis – February 10

 

The pushing up of the price to reach the resistance level at $0.62 may increase the price to the next resistance level which can be found at $0.73 and above. In case the bears manage to push the price below the support level at $0.39 with the daily candle closes below the level, then, further price declination may be possible and the support levels may be found at $0.28 and $0.21.

 

XRP/USD Market

 

Key Levels:

 

Resistance levels: $0.49, $0.62, $0.73

Support levels: $0.39, $0.28, $0.21

XRP/USD Long-term Trend: Bullish

 

The bulls are returning to the XRP/USD market. On February 01, the coin sporadically increased to test the resistance level of $0.62 but the bulls’ momentum became weak and the price was rejected at the level. After the price rejection at the resistance level of $0.62, the price fell to the support level at $0.39. It could not break down the support level with the bulls’ pressure defending the mentioned support level, the price is gradually increasing towards the previous high.

 

 

Should the bulls push up the price to reach the resistance level at $0.62 and the level does not hold the price, the next resistance level can be found at $0.73 and above. In case the bears manage to push the price below the support level at $0.39 with the daily candle closes below the level, then, further price declination may be possible and the support levels may be found at $0.28 and $0.21.

 

XRP/USD Medium-term Trend: Bullish

 

XRP is bullish in the 4-hour chart. The bulls’ momentum is currently increasing gradually on the 4-hour chart. The bulls have gain more pressure after the sudden declination in price. The price is currently carrying out a retest to the broken level of $0.49.

 

 

The 9 periods EMA and 21 periods EMA are separated from each other and the price trading over the EMAs.The relative strength Indicator is above 50 levels and the signal line flips towards south to indicate sell.