XRP Price Analysis – February 20

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Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Bullish

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.32, $0.30, $0.28

The XRPUSD pair is in a bullish trend zone. Yesterday, the crypto’s price was making a series of higher highs and higher lows when the price was resisted at $0.34. From the daily chart, the bullish trend is ongoing. On February 18, the crypto’s price reached the high of $0.32 and the following day a Doji candlestick appeared.

This explains that price has reached an equilibrium between the buyers and sellers. In other words, neither the bulls nor the bears have an upper hand. Today, February 20, the bullish trend is ongoing as indicated by the trend line. The bulls are having an upper hand. On the upside, if the crypto’s price is sustained above the EMAs and the $0.34 resistance level is broken the crypto will reach the $0.40 price level.

Meanwhile, the stochastic indicator is in the overbought region and but below the 60 % 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

On the 4-hour chart, the XRP price is in a bullish trend as the crypto reached a high of $0.34. The crypto’s price faced the resistance level at $0.34 as price fell to the low of $ 0.32 at the 12-day EMA. Today, the crypto’s price has commenced another bullish movement.  The XRP price is expected to reach the previous highs of $0.40 and $0.50 if the bulls break above the $0.34 price level. 

Meanwhile, the stochastic indicator is out of the overbought region but below the 60 % range which indicates that the XRP price is in a  bearish momentum and a sell signal. However, the crypto’s price is above the EMAs which indicates that price is likely to rise.

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

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