In this Ripple price analysis, XRP ranges above the $0.30 price level. On the upside, if the price rises, it is likely to move above the $0.33 level.
Looking at the 4-hour chart, Ripple (XRP) is ranging above the price level of $0.30. The bulls tested the $0.31 resistance level on Thursday and the price was correcting downward. On March 28, the 12-day Exponential Moving Averages (EMA), as well as the 26-day, was broken by the bears to reach the bearish trend zone.
However, the bulls were acted quickly, pulling the price back above the EMAs as XRP price is now in range bound movement. The crypto’s price is now above the EMAs, signalling that price is likely to rise. Also, the price is at the $0.30 price support level, an indication that the price can equally rise.
On the upside, if the price of XRP rises, it is likely to continue the upward trend to the price level of $0.33. This price level has neither been tested or broken since February 25. On the downside, if the bears break below the EMAs, the price of Ripple will plummet and resume a downward movement.
In the meantime, the Stochastic indicator is in the overbought region while it is below the 80% range. This is an indication that the price of XRP is in a bearish trend and signalling sell.
As the chart shows, XRP price is in a range bound movement in the 1-hour chart. The price was resisted yesterday at the $0.31 price level. The price fell to the low at $0.30351 as the bears broke below the EMAs. Nevertheless, XRP bulls pulled the price back above the EMAs to a high at $0.30610.
At the time of writing, the price is now ranging below and above the price level of $0.30610. The EMAs is now trending horizontally. This indicates that the price is in a range bound movement, in order words, the XRP price can go either direction.
In the meantime, the stochastic indicator is at the oversold region, but it is below the 40% range, indicating that the price of XRP is in a bearish momentum and a sell signal.
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