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XRP Price Analysis – April 15 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

Last week the XRPUSD pair traded in the bullish and bearish trend zones. In the bullish trend zone, the bulls tested the $0.37 resistance level and were resisted. The bears broke the 12-day EMA and the 26-day EMA to reach the bearish trend zone. In the bearish trend zone, the crypto’s price was ranging at the $0.32 price level.

The crypto’s price is also below the EMAs which indicates that the price is likely to fall. However, if the crypto’s price  ranges for a day or two it may have a price breakout or a price breakdown. On the upside, if the bulls break the $0.34 price level the crypto’s price will resume its bullish trend to retest the $0.37 price level.

On the downside, if the bulls fail to break the $0.34 price level, the crypto’s price will resume its range bound movement between the levels of $0.29 and $0.34. Meanwhile, the stochastic is in the oversold region but above the 20% range. This indicates that the XRP price is in a bullish momentum and a buy signal.

XRPUSD Short-term Trend: Ranging

XRP Chart by TradingView

On the 4-hour chart, the XRP price is in a range bound movement. On April 11, the bears broke below the 12-day EMA and the 26-day EMA to reach the low at $0.32 .The crypto’s price is commencing  a range bound movement below the EMAs and at the $0.32 price level.

Nevertheless, if the bulls break above the EMAs, the crypto’s price will resume its bullish trend. On the other hand, if the bulls fail to break above the EMAs, the price will continue its range bound movement. Meanwhile, the stochastic indicator is in the oversold region but above the 40% 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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