Resistance and support levels for Ripple (XRP):
Resistance level: $0.48, $0.50, $0.53
Support level: $0.43, $0.41, $0.37
Ripple (XRP) Medium-term Price Analysis: Bearish
XRP was in a ranging movement yesterday. It was choppy at the middle of the bound range. It was ranging between the resistance level of $0.48 and the support level of $0.43. The bears gained momentum and were able to move the market down to the lower area of the bound range with the formation of strong bearish candles.
The cryptocurrency is presently below 21-day EMA and the 50-day EMA, indicating a bearish trend. The RSI 14 is above the 20 levels and its signal line points to the north indicating a sell signal.
Should the bulls gain more pressure over the bears and the support level of $0.43 holds, the coin will rally to the north and it may break up the resistance level of $0.48 and expose the coin to $0.50. In case the support level of $0.43 broken downside, the support level of $0.41 will be exposed.
Ripple (XRP) Short-term Price Analysis: Bearish
XRP/USD is bearish within the bound range of $0.48 resistance level and $0.43 support level. Today the bears moved down the XRP price to the support level of $0.43 but are yet to break its downside.
The coin is below 21-day EMA and 50-day EMA indicating that selling is ongoing. However, the RSI period 14 is at the oversold area (below 20 levels) and its signal lines pointing to the north which indicates a buy signal. The price may retrace or reverse at this level.
