Resistance and support levels for Ripple (XRP):
Resistance level: $0.46, $0.50, $0.55
Support level: $0.43, $0.39, $0.37
Ripple (XRP) Medium-term Price Analysis: Bullish
XRP/USD has been ranging since October 12 and it continued till yesterday. The coin was ranging within the range bond of the former resistance level of $0.43 and the support level of $0.39. The ranging started immediately and the price was rejected at the support level of $0.37 by the strong pressure of the bulls.
Currently, the coin has broken the resistance level of $0.43 with the formation of a strong bullish candle. The coin is above the 10-day EMA and the 50-day EMA, with the RSI 14 above the 50 levels and its signal line points to the north indicate strong buy signal.
As the support level of $0.39 holds and the bulls increase their momentum, the coin will move up to the north rapidly today.
Ripple (XRP) Short-term Price Analysis: Bullish
XRP/USD is bullish in its short-term outlook. The coin consolidated for some days till yesterday. Today, more buyers came into the market and pushed the price up to the north by breaking out the resistance level of $0.43. The price may continue its uptrend today
The price is above the 10-day EMA and the 50-day EMA. The 10-day EMA has crossed the 50-day EMA upside, indicating a strong buy signal. The stochastic oscillator 14 is above 70 levels with its signal lines pointing upward which indicates the strong uptrend movement.