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 ranging movement yesterday. Before it entered consolidation, XRP was in a bullish trend when the bullish engulfing candle formed. Bulls pushed XRP’s price from the support level of $0.43 to above $0.45. The sellers gained momentum which was able to reverse the market from the uptrend and pushed the price back to consolidation.
XRP is currently 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 a consolidation is ongoing. The RSI 14 is above 40 levels and its signal line points to the south indicating a sell signal.
In case the support level of $0.45 gets broken downside, the support level of $0.43 would be exposed. On the other hand, should the bulls gain more pressure over the bears, the coin will rally to the north. XRP may break up the resistance level of $0.50 and expose the coin to $0.53.
Ripple (XRP) Short-term Price Analysis: Bearish
XRP/USD was in a bearish move 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. Later in the day, the bears pushed the price back to support level of $0.45.
The 10-day EMA has crossed the 50-day EMA downside with XRP below the two EMAs indicating that selling is ongoing. However, the RSI period 14 is above 40 levels and its signal lines point to the south, which indicates a sell signal.