In today’s Ripple price analysis, XRP is showing a lot of positive signs above the $0.270 level and is likely to continue higher as long as it is above $0.250.
Ripple Price Medium-term Trend
After breaking above the $0.250 resistance, the price of Ripple (XRP) entered into the bullish trend zone. The bulls were able to push XRP above the $0.260 and $0.270 resistance levels to continue the uptrend. Moreover, there Ethereum price finally broke above the $0.280 resistance and traded to a new 2020 high at $0.288.
However, at the time of writing this Ripple price analysis, the coin is correcting lower and trading below the $0.28 level.
On the downside, an immediate support is near the $0.270. If the price fails to stay above the $0.270 support level, the crypto’s price will drop to the levels of $0.260 and $0.250. On the upside, if more buyers emerge, the coin will face resistance at the $0.280 and $0.30 price levels.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
XRPUSD Price Short-term Trend
On the 1-hour chart, the XRP price is in a bullish trend above $0.2750 and $0.2705. In the short term, there could be a minor decline or a correction, but the price is likely to rise again as long as it is above $0.2580.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
- Resistance Levels: $0.28, $0.30, $0.34
- Support Levels: $0.27, $0.26, $0.25
Author Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.