Ripple (XRP) has returned to its range above the $2.00 support level. Price analysis by Coinidol.com.
XRP long-term analysis: bearish
Now the cryptocurrency fluctuated above the $2.00 support and below the $3.00 barrier. The bulls bought the dips as the altcoin fell to as low as $1.61. The bullish momentum peaked at $2.29 after breaking above the moving average lines.
The resistance zone of $2.30 is the first obstacle in the upward move. XRP will rally to the high of $3.00 if the current barrier is broken. The altcoin will fall back to the low of the 21-day SMA if XRP loses the 50-day SMA support.
Later, XRP will fall back to the critical support at $2.00. The price of XRP is at $2.22.
XRP price indicators analysis
XRP is trading in the positive trend zone as the price bars are rising above the moving average lines. The cryptocurrency is facing an early barrier above the moving average lines. XRP will fall below the moving average lines if it is rejected at the high of $2.30. The moving average lines are horizontal due to the sideways trend.
The moving average lines of the 4-hour chart are pointing upwards and have a positive crossover.
Technical indicators:
Key Resistance Levels – $2.80 and $3.00
Key Support Levels – $1.80 and $1.60
What is the next direction for XRP?
XRP has returned to its previous level above the $2.00 support. The high of $2.30 on the 4-hour chart has halted the positive momentum. The altcoin is just above the moving average lines and below the $2.30 level.
The uptrend will continue if the price breaks above the $2.30 high. XRP will come under renewed selling pressure if the moving average lines are undercut by the bears.
Coinidol.com wrote on April 16 that XRP was rising after falling below the critical support level of $2.00.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
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