XRPUSD Medium-term Trend: Bullish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
Yesterday, March 27, the XRP price was in a bullish trend. From its low at $0.30, the bulls broke the 12-day EMA and the 26-day EMA to reach the bullish trend zone. The crypto’s price is above the EMAs which indicate that price is likely to rise. However, the bulls tested the $0.31600 price level and were resisted.
The XRP price is currently retracing and has fallen to the support of the EMAs. On the upside, if price retraces and falls to the support of the EMAs, the bulls will resume its bullish trend. The crypto’s price is likely to break the initial resistance level at the $0.31 price level and move to retest the $0.33 resistance level.
On the other hand, if the price retraces and breaks below the EMAs, the crypto’s price is likely to fall to the low at the $0.30 price level. Meanwhile, the stochastic indicator is at the overbought region but below the 80 % range.The blue band of the stochastic is making a U-turn below the overbought region indicating that the XRP price is in a bearish momentum and a sell signal.
XRPUSD Short-term Trend: Bullish
On the 1-hour chart, the XRP price is in a bullish trend zone. The crypto’s price is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. The bullish candlesticks have been testing the $0.31 price level. On each occasion, the price will fall to the support of the EMAs.
On March 27, the bulls tested the $0.31 price level and the bears broke below the EMAs. Nevertheless, if the bearish trend continues, the crypto’s price will fall to the low at $0.30. Meanwhile, the stochastic indicator is at the oversold region but below the 20 % range which indicates that the XRP price is in a bearish momentum and a see signal.
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