XRP Price Analysis – February 18

click here to see original post

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Bullish

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.29, $0.27, $0.25

Last week the XRP price was range bound at the $0.30 price level. On February 8, the crypto’s price rallied at the high of $0.32. On February 10, a downward correction was made as the price fell to the low of $0.30. The bulls held on to the $0.30 price level prior to the current bullish trend.

Last week, it was also assumed that the crypto would experience a price breakout after the downward correction. On February 17,  the bulls broke the 12-day EMA, the 26-day EMA and the crypto reached the high of $ 0.32. The XRP price is facing resistance at the $0.32 price level. On the upside, the crypto’s price is expected to rise if the crypto’s price is sustained above the EMAs and the bulls break the $0.32 price level.

Then the XRP price will reach the highs of $0.33 and $0.40 price levels. On the downside, if the bears break below the EMAs or the $0.30 price level, the crypto will resume its downtrend. Meanwhile, the stochastic indicator is in the overbought region and approaching the 80 % range which indicates that the XRP price is in a  bullish momentum and a buy signal.

XRPUSD Short-term Trend: Bullish

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

Last week, the XRP price was in a sideways trend zone after the downward correction. The crypto’s price fluctuated below and above the 12-day EMA and the 26-day EMA which was the horizontal line. Also, the crypto’s price was range bound at $0.30 price level. Today, the bulls have reached the $0.32 price level but the crypto’s price is retracing.

The crypto’s price is retracing after the price was repelled. The crypto’s price has fallen to the support of the 12-day EMA which is likely to rise. Meanwhile, the stochastic indicator is in the overbought region and below the 80 % range which indicates that the XRP price is in a  bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.         

Share !
Uncategorized