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: Ranging
XRP was in a bullish trend earlier yesterday in its medium-term as the bullish engulfing candle formed. Bulls pushed XRP’s price from the support level of $0.43 to level above $0.45. Later in the day, sellers gained momentum which was able to reverse the market from the uptrend and pushed the price back to begin consolidation.
The coin is now trading on both the 10-day EMA and the 50-day EMA; the two EMAs interlocked on the support level of $0.45 indicate that consolidation is ongoing. The RSI 14 is above the 40 levels and its signal line points to the south indicating a sell signal. In case the support level of $0.45 is broken downside, the support level of $0.43 will be exposed.
Ripple (XRP) Short-term Price Analysis: Ranging
XRP/USD was bullish yesterday. The bulls moved the XRP price from the support level of $0.43 to the resistance level of $0.45. This broke the resistance up to the north and the coin is rallying towards the resistance level of $0.50. Later in the day, bears pushed the price back to support level of $0.45.
The pair is currently on the 10-day EMA and 50-day EMA, indicating ongoing consolidation. However, the RSI is above 40 levels and its signal lines point to the south, which connotes a sell signal.