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XRP Price Analysis – April 2

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 is now in the bullish trend zone. Yesterday, it was assumed that a price breakout will enable the bulls to break the $0.32 and $0.33 resistance levels. Today, the crypto’s price encountered a price breakout that has broken the resistance levels of $ 0.31, $0.32 and $0.33 price level.

The crypto’s price is above 12-day EMA and the 26-day EMA which makes it possible for the crypto to rise. The XRP price is currently trading at $0.34028 as at the time of writing. On the upside, if the bulls defend the $0.33 price level and the buyers push the price above the $0.34 price level; XRP price will rise to the $0.40 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 trending horizontally as a single line indicating that the XRP price was previously ranging at the $0.31 price level for days. Today, the XRP price has broken out of the range bound movement. The crypto’s price has a price spike that reached a high of $0.33.

The crypto’s price is likely to rise as the bulls have broken the $0.32 and $0.33 resistance levels. Nevertheless, the bullish trend is ongoing as the trend line has not been broken by a bearish candlestick. Meanwhile, the stochastic indicator is at the overbought region but above the 60 % 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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