Ripple price is set for an uptrend. If the bulls break above the EMAs, XRPUSD will rise to retest the $0.40 and $0.46 resistance level. What more? Gain insight into the following analysis.
Ripple Price Technical Prediction
In retrospect of the past week, Ripple (XRP) price was in a bearish trend, which has been ongoing for one month. On June 23, the bulls met resistance at the $0.47 price level. On June 27, the bears broke the Exponential Moving Averages (EMAs) as the price dropped below the EMAs. The price of Ripple dropped below the 12 and-day EMA which is an indication that the price will continue its downward trend.
On July 16, the bearish trend was corrected as the price declined to a low at $0.29 price level. Ripple price reached the oversold region of the market and buyers emerged. The bulls have made an upward move towards the EMAs. On the upside, if the bulls are able to break above the EMAs, XRP price will rise to retest the $0.40 and $0.46 resistance level.
As the price is set for an uptrend, traders are expected to buy low and sell high. Traders should also look out to buy setups to initiate long trades in anticipation of a bullish trend. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line indicating a sell signal.
XRPUSD Price Short-term Prediction
As the 1-hour chart shows, XRPUSD price is in a bearish trend. The 12 and 26-day EMAs are sloping horizontally. On July 20, XRPUSD price reached a high of $0.34 but declined to the low of $0.32 price level to resume an upward move above the EMAs. In the meantime, the MACD line and the signal line are above the zero line which suggests a buy signal. signal.
- Resistance Levels: $ 0.44, $0.46, $ 0.48
- Support Levels: $0.31, $0.29, $0.27
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.