Resistance and support levels for Ripple (XRP):
Resistance level: $0.50, $0.55, $0.59
Support level: $0.46, $0.43, $0.39, $0.37
Ripple (XRP) Medium-term Price Analysis: Bullish
XRP is bullish in its medium outlook. The coin broke the resistance level of $0.43 with the formation of a strong bullish candle two days ago. More buyers came into the market and the price increased to the higher level of resistance of $0.55 before it was rejected strongly by the bears with the formation of long upper wick candles. The bulls regained their momentum and pushed the market up yesterday to break the formal resistance of $0.46.
The 4-day EMA has crossed the 50-day EMA upside. The coin is now trading above the 4-day EMA and the 50-day EMA, indicating further upward movement. The RSI 14 is above the 70 levels and its signal line points to the north indicating a buy signal.
In case the support level of $0.46 holds and the bulls increase their momentum, the coin will further move up to the north.
Ripple (XRP) Short-term Price Analysis: Bullish
XRP/USD was bullish in its short-term outlook at the early hour of trading two days ago. The price of the coin dropped to lower support of $0.46. It eventually moved gradually below the support level of $0.46 before the end of trade two days ago.
Yesterday, more buyers come into the market and pushed the price up to the north by breaking out the resistance level of $0.46. Stochastic Oscillator is above 80 level and its signal lines point south connoting a sell. The price may carry out retracement and continue its uptrend today.
