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
The coin broke the resistance level of $0.43 with the formation of a strong bullish candle yesterday. More buyers came into the market and the price increased to a higher level of resistance of $0.55 before it was rejected strongly by the bears with the formation of long upper wick candles.
The coin is trading above the 50-day EMA and the 10-day EMA below 50-day EMA, indicating further upward movement. The RSI 14 is above 40 levels and its signal line points to the north, indicating a buy signal.
In case the support level of $0.43 holds and the bulls increase their momentum, the coin will move up north.
Ripple (XRP) Short-term Price Analysis: Bullish
XRP/USD was bullish in its short-term outlook at the early hour of trading yesterday. The price of the coin dropped to a lower support of $0.46. It gradually moved below the support level of $0.46 before the end of yesterday.
Today, more buyers may come into the market and push the price up to north by breaking out the resistance level of $0.46 as the Stochastic Oscillator is above the 50 level and signal lines point north which connotes buy. 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 which indicates a buy signal.