XRPUSD Medium-term Trend: Ranging
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
Yesterday, March 21, the XRP price was in a bearish trend. The bears have temporarily put to an end the indecision between the buyers and sellers. The range bound movement is likely to be over. Yesterday, the bulls tested the $0.32 strong resistance level for the fifth time and were resisted.
The bears broke the 12-day EMA, the 26-day EMA and the $0.31000 as the price fell to the bearish trend zone. The XRP price fell to a low at $0.30818 but corrected upward. Nevertheless, the XRP price had been in a tight range between the levels of $0.30 and $0.33.
Therefore, if the price had fallen to the $0.30818 price level, it is assumed to have completed the run of the lower price level. In a few days to come, we expect the bulls to break the $0.32000 price level and the EMAs so as to reach a previous high of $0.33 price level.
On the other hand, if the bulls fail to break above the $0.32 price level and the EMAs, the XRP price is likely to depreciate to the previous low at either $0.29 or $0.30.Meanwhile, the stochastic indicator is at the overbought region 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
On the 4-hour chart, the XRP price is in a bearish trend zone. Yesterday, the bullish candlestick’s wick almost tested the $0.33 price level, but the bears brought the price to the $0.32 price level. The crypto’s price continues its fall as the bears broke the EMAs and the price fell to a low of $0.30818.
Nevertheless, the crypto’s price is below the EMAs which indicates that the price is likely to fall.Meanwhile, the stochastic indicator is at the oversold region but below the 40% range which indicates that the XRP price is in a bearish momentum and a sell signal.
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