XRP Price Analysis – February 22

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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

Yesterday, February  21, the XRP price was in a bearish trend. From the daily chart, the crypto’s price was resisted at the $0.34 price level. This was the price level the bears broke as support level since January 10. The broken support level turns a resistance level to the bulls. The $0.34 price level had remained unbroken since  January 10.

On January 31 and February 21, the bulls were repelled at the $0.34 resistance level. The crypto’s price is above the 12–day EMA and the 26-day EMA which indicates that the price is likely to rise. On the upside, if the bulls have a price breakout, the bulls will break the resistance level and reach a high of $0.40.

On the other hand, if the bears have a price break down, the bears will break below the EMAs and find support at the $0.30 price level.  Meanwhile, the stochastic indicator is in the overbought region and but below the 80 % range which indicates that the XRP price is in a  bearish momentum and a sell signal.

 XRPUSD Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

On the 4-hour chart,  the XRP price is in a bearish trend. Yesterday, the bears broke below the 12-day EMA and the 26-day EMA as the price fell to the low of $0.32. In the 4-hour chart, the crypto’s price is below the EMAs which indicates that price is likely to fall.  In the meantime, the crypto’s price is ranging below the EMAs.

Meanwhile, the stochastic indicator is in the oversold region but below the 20% range which indicates that the XRP price is in a strong 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.         

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