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XRP Price Analysis – April 3

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. On April 2, the crypto’s price reached a high of $0.36226 but closed at a price of $0.35542. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that the price is likely to rise. This price rally has brought the crypto out of the previous price range of $0.28 and $0.34.

The XRP price is expected to rise if the bulls sustain price above the EMAs. On the upside, if the bullish trend resumes, the crypto’s price is likely to reach the previous high of $0.40. However, the crypto’s price may likely face resistance at the $0.37 price level.

Meanwhile, the stochastic is in the overbought region but above the 60% 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. Yesterday, the bulls reached a high of $0.36729 but were resisted. A bullish trend line was drawn to determine the continuity of the bullish trend. Technically, the bullish trend has been terminated except the price action states otherwise.

The reason is that a bearish candlestick has broken the trend line and another closes on the opposite of it. On the upside, if the price retraces to the support of the 12-day EMA, there is a likelihood of the bulls resuming their bullish trend. On the downside, if the price retraces and breaks below the 12-day EMA and the 26-day EMA, the crypto’s price will resume a downward trend.

Meanwhile, the stochastic indicator is at the overbought region but below the 80 % 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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