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XRP Price Analysis – April 4 Bullish

XRP Chart by TradingView

XRPUSD Medium-term Trend: Bullish

 

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

The XRP price is still trading in the bullish trend zone. The price rally enables the crypto to come out of the range-bound zone but after a downward correction the price fell to the support at the $0.34 price level. The price rally reached a high at $0.36226 but closed at $0.35542.

Today, the bulls have resumed another bullish trend. Also, the crypto’s price is above the 12-day EMA and 26-day EMA which indicates that the price is likely to rise. On the upside, the XRP price is expected at the $0.40 price level if the price is sustained above the EMAs and more buyers are introduced at the upper price level.

However, if the bears break below the $0.34 price level, the crypto’s price will resume a downward trend. Meanwhile, the stochastic is in the oversold 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. The bulls are facing resistance at the $0.37 price level. On April, 3, the bulls tested the $0.37 price level; the price retraced to resume another bullish trend. However, the second attempt by the bulls at the resistance made the bears break the EMAs and price fell to the support of the 26-day EMA.

If the bulls break above the EMAs, the crypto’s price will rise to retest the $0.37 resistance level. On the other hand, if the bears have the upper hand, the crypto’s price will fall into the previous range bound zone. Meanwhile, the stochastic indicator is out of the overbought region but below the 60% 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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