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XRP Price Analysis – April 11 Bearish

XRP Chart by TradingView

XRPUSD Medium-term Trend: Bearish

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.33, $0.31, $0.29

Yesterday, April 10, the XRP price was in a bearish trend. The XRP price has fallen and it is approaching the price at $0.33007. If the price falls to the low at $0.31715, the bullish gains would have been eroded. The cause of the bearish trend was the inability of the bulls to break the $0.37 resistance level.

It could also mean that there were no buyers at the upper price level. From the daily chart, the bears have broken the $0.34 price level. This means that the crypto’s price is likely to fall. If the price falls, it will fall into the previous range bound zone of $0.28 and $0.34 price levels.

On the downside, if  the price breaks down, the crypto’s price will find support at the $0.31 or $0.32 price level. On the other hand, if the bulls break above the EMAs, the crypto’s price will resume its bullish trend. Meanwhile, the stochastic is in the overbought region but below the 80% range. This indicates that the XRP price is in a bearish momentum and a sell signal.

XRPUSD Short-term Trend: Bearish

XRP Chart by TradingView

On the 4-hour chart, the XRP price is in a bearish trend zone. Since April 3, the bulls had been testing the $0.37 resistance level to break it. At each attempt, the bulls were resisted and the price fell to the support of the EMAs. Yesterday, the bulls reached the high of $0.36118 but were resisted as the bears broke the 12-day EMA and the 26-day EMA.

The bulls also broke the $0.34 price level as the crypto’s price entered the previous range bound zone. The XRP price is below the EMAs, as the crypto’s price may fall and revisit the lower price range. Meanwhile, the stochastic indicator is in 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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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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