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XRP Price Analysis – April 1

XRP Chart by TradingView

XRPUSD Medium-term Trend: Bullish

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.30, $0.28, $0.26

The XRPUSD pair was in a bearish trend zone in the previous week. In retrospect, the XRP price was in a range bound movement in most part of the previous month. The crypto’s price was testing the $0.32 resistance level and also testing the $0.31 support level but was unable to break the levels.

On March 21, the bears had the upper hand and broke below the 12-day EMA and the 26-day EMA to reach the bearish trend zone. The price fell to the low at $0.30592. The pair is likely to rise as the bulls are in control. The XRP price is trading at $0.31687 as at the time of writing. The bulls are attempting to break above the EMAs.

On the upside, if the bulls break above the EMAs, the crypto’s price is likely to rise. A price breakout will enable the bulls to break the $0.32 and $0.33 resistance levels. If the price reaches the $0.34 price level, the crypto’s bullish momentum will increase.

On the other hand, if the bulls fail to break above the EMAs, the XRP price will continue to range at the $0.31 price level. Meanwhile, the stochastic indicator is at the oversold region but above the 40 % range. This indicates that the XRP price is in a bullish momentum and a buy signal.

XRPUSD Short-term Trend: Bullish

XRP Chart by TradingView

On the 4-hour chart, the XRP price is in a bullish trend zone. The 12-day EMA and the 26-day EMA are currently trending and indicating that the crypto’s price was in a range bound movement. Previously, the crypto’s price was ranging at the $0.31 price level. Today, the crypto’s price is making a series of higher highs and higher lows.

The crypto’s price may face resistance at the $0.32 and $0.33 price levels except for a price breakout stating otherwise. The bullish trend is ongoing if the trend line is unbroken. Meanwhile, the stochastic indicator is at the oversold region but above the 20% range which indicates that the XRP price is in a bullish momentum and a buy signal. 

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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