XRP/USD Price: Will Bulls Remain In Charge?

XRP/USD Price: Will Bulls Remain In Charge?

XRP/USD Market October 14

The resistance level at $0.27 may be reached and if it is penetrated, the $0.33 price level is the next target. In case the support level at $0.25 is penetrated downside, the price will target the low support levels at $0.22 and $0.20.

Key Levels:

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

XRP/USD Long-term Trend: Bullish

XRPUSD is bullish on the daily chart. XRPUSD breaks up the resistance level of $0.25 last Monday and the bullish volatility has not brought much significant impact to the market. Yesterday, the XRP market opened at $0.256351 and closed at $0.656323, meaning that there was a loss of $0.000028(-0.01%). It seems the bulls’ strength is getting weaker as the Bears are increasing their momentum in the XRP market as at moment.

XRPUSD Daily chart, October 14

Yesterdays’ daily candle was a Doji pattern; there is indecision in the market. Nevertheless, the price remains above the 9 periods EMA and 21 periods EMA. Further increase in the bulls’ pressure envisaged after current price retracement towards the $0.25 level. The resistance level at $0.27 may be reached and if it is penetrated, the $0.33 price level is the next target. In case the support level at $0.25 is penetrated downside, the price will target the low support levels at $0.22 and $0.20. The relative strength index period 14 is at 60 levels and the signal line steep up to indicate buy signal.

XRP/USD medium-term Trend: Bullish

On the 4-hour chart, XRPUSD is bullish. Immediately the coin breaks up the resistance level at $0.25, the bullish momentum became weaken and there is not enough pressure to propel the price further, then it started consolidating around the $0.25 price level.

XRPUSD 4-hour chart, October 14

The price has broken above the 9 periods EMA and the 21 periods EMA and the price is ranging around $0.25 price level. The relative strength index period 14 is not displaying a specific direction.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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
Share with other traders!

Author : Azeez Mustapha

Avatar

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