XRPUSD Medium-term Trend: Bearish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.29, $0.27, $0.25
The XRPUSD pair is trading in the bearish trend zone. Yesterday, the crypto’s price fell to the low at $0.30280. Today, the bears have reached the $0.29 price level. It is likely that the price will reach the low at $0.28. If the XRP price reaches the low at $0.28, then the crypto’s price has reached the previous lower price range.
On the other hand, a trend line is drawn on two candlesticks to determine the duration of the bearish trend. We are expecting another daily bearish candlestick to test the trend line which will signal the continuation of the bearish trend. However, if a bullish candlestick appears it might break the trend line which might terminate the bearish trend.
Nevertheless, if the trend line is unbroken, it implies that the bearish trend is ongoing. However, if the $0.29000 price level holds, the bulls will resume its bullish trend to retest the trend line and the EMAs to reach the bullish trend zone. Meanwhile, the stochastic is in the oversold region but below the 20% range. This indicates that the XRP price is in strong bearish momentum and a sell signal.
XRPUSD Short-term Trend: Bearish
On the 4-hour chart, the XRP price is in a bearish trend. Yesterday, the crypto’s price fell to a low at $0.29595 but the bulls pullback to a high of $0.30240. The XRP price is falling after being resisted at the $0.30500 price level. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that the price is likely to fall.
Meanwhile, the stochastic indicator is in the oversold region but above the 20 % range which indicates that the XRP price is in bullish momentum and a buy signal.