XRP (XRPUSD) Price Forecast: August 14
The XRP market remains positive, signaling a bullish trade. The pair indicates that the bulls are gaining strength in the coin market presently. Over the past few days, the cryptocurrency has been increasing in value. It appears that if buyers raise their market activity vigorously, the coin might continue its upward trend. Investors could profit greatly if the coin continues to rise to the upper resistance level of $3.580 and beyond, as the upward trajectory goes on.
Key Levels:
Resistance Levels: $3.258, $3.259, $3.260
Support Levels: $2.060, $2.059, $2.058
XRP (USD) Long-term Trend: Bullish (Daily Chart)
The XRP price signals a bullish trade and looks attractive for long-term investors, as the coin experiences an upward move in its long-term view.
The sustained bullish pressure at the $2.991 high level in the last session has enhanced the crypto price above the supply levels in its recent high.
Today, the market price of XRPUSD signaled a bullish trade at $3.293 supply level above the moving averages as the daily chart opens, implying that the price is in an uptrend.
Even though the price of XRP has increased, the bulls must demonstrate their strength by surpassing a critical resistance level of $3.580 to maintain the trend.
Additionally, there is a propensity for the currency to increase further if the support level holds. Buyers will be able to push the price up to the upper resistance mark of $3.653, as it signals a bullish flag in its long-term perspective.
XRP (USD) Medium-term Trend: Bullish (4H Chart)
In the medium-term, the XRPUSD pair shows bullish momentum. Price bars trade above the moving averages and have confirmed an upward breakout of the previous high. The pair maintains a clear uptrend as illustrated below.
As the 4-hourly chart opens today, the price of XRP signals a bullish flag as it surges sharply above the resistance trend lines at the $3.293 level due to a strong influence of long traders on the asset.
Thus, a possible breakout from the current retracement neckline may accelerate the buying momentum and push the prices to hit the $3.653 previous resistance level, suggesting a high bullish recovery sentiment.
In addition, the daily stochastic points upwards, suggesting a more upward trend.
Therefore, if all support holds in place, the price of XRPUSD might jump to the $3.580 upper high level soon, as it shows a bullish flag.
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