XRPUSD May Reverse at $0.17 Support Level
Login

XRPUSD May Reverse at $0.17 Support Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:
XRP/USD Market January 03

When the bulls penetrate the $0.21 level, the price may decrease further to $0.17 and $0.10. Should the support level of $0.21 holds, the price may reverse and the resistance levels of $0.28, $0.39, and $0.49 may be tested.

Key Levels:

Resistance levels: $0.28, $0.39, $0.49
Support levels: $0.21, $0.17, $0.10

XRP/USD Long-term Trend: Bearish

On the daily chart, XRPUSD is bearish. XRPUSD remains under the bears’ momentum since the time the bears take over the XRP market when the coin reaches the resistance level at $0.62. The strong and massive daily bearish candle that formed penetrated the former support level of $0.39 and $0.28 downside. The price retracement was carried out to the $0.39 level. Following the pullback, the price decreases toward the $0.17 level when the bears increased their pressure.

XRPUSD daily chart, January 03

XRPUSD is struggling to penetrate the key support level at $0.21 but the level holds the price. When the bulls penetrate the $0.21 level, the price may decrease further to $0.17 and $0.10. Should the support level of $0.21 holds, the price may reverse and the resistance levels of $0.28, $0.39, and $0.49 may be tested. Meanwhile, the price retains its trading below 9 periods EMA and the 21 periods EMA, the former is below the later. The relative strength index period 14 is at 25 levels parallel to the level which indicates a consolidation signal.

XRP/USD Medium-term Trend: Ranging

On the medium-term outlook, XRPUSD is in the ranging mode. The support level of $0.21 is resisting the bears. The bears lose their momentum and the bulls’ pressure is equally weak. The price results in consolidation within $0.28 and $0.21 price levels.

XRPUSD 4 hour chart,January 03

The price is hovering over the 9 periods EMA and 21 periods EMA and the fast-moving average is interlocked with the slow-moving average. However, the relative strength index period 14 is bending up at 30 levels to indicate a buy signal.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News