Resistance and support levels for Ripple (XRP):
Resistance level: $0.50, $0.53, $0.65
Support level: $0.45, $0.43, $0.40
Ripple (XRP) Medium-term Price Analysis: Bullish
XRP/USD was bearish yesterday in its medium-term trend. The sellers gained momentum and were able to move the market from the consolidation phase by breaking down support level of $0.45 to the support level of $0.43. The bulls prevented a further downtrend movement of the coin with the formation of a bullish engulfing candle, followed by more bullish candles which led to XRP’s price rising above the support level of $0.45.
The coin is now trading on both 10-day EMA and the 50-day EMA; with the 10-day EMA crossing the 50-day EMA, indicating an ongoing uptrend. The RSI 14 is above the 50 levels and its signal line points to the north indicating a buy signal. XRP is rallying to the north towards the resistance level of $0.50. In case the resistance level of $0.50 breaks, the pair will find its high at the resistance level of $0.53.
Ripple (XRP) Short-term Price Analysis: Ranging
XRP/USD was bullish yesterday. The bulls moved XRP’s price from the support level of $0.43 to the resistance level of $0.45. It broke the resistance up to the north and the coin is rallying towards the resistance level of $0.50.
The pair is currently above the 10-day EMA and 50-day EMA indicating that ongoing buying. However, the RSI is above 55 levels and its signal lines point to the south which connotes a sell signal.