In this Ripple price analysis, the XPRUSD pair has sustained trading at $0.31 price level since March 30. At the moment, there is a possibility that the price will rise. A price breakout will empower the bulls to break above the resistance levels of $0.32 and $0.33.
Ripple Price Analysis
Last week, Ripple (XRP) price was in a bearish trend zone against the US dollar as it was in a range bound movement in most part of the month of March. In retrospect, XRP price was testing the resistance level of $0.3155 and also testing the $0.3143 support level but couldn’t break the levels.
Last Thursday, the bears were in control and broke below the 12-day Exponential Moving Average (EMA) and the 26-day EMA to reach the bearish trend zone. Ripple price dropped to $0.30592 low. In the near term, the XPRUSD pair is likely to rise as the bulls are now in charge. At the time of writing, Ripple price is trading at $0.31687 as buyers are attempting to push the price above the EMAs.
On the upside, if the bulls are able to break above the EMAs, XRP price is likely to continue higher. A price breakout will empower the bulls to break above the $0.32 and $0.33 resistance levels. Hence, if the price climbs to $0.34 level, the bullish momentum will increase.
On the downside, if XRP bulls are unable to break above the EMAs, the price will continue to range at the price level of $0.31. In the meantime, the Stochastic indicator is in the oversold region while above the 40% range. This is an indication that the price of Ripple is in a bullish momentum, signalling a buy signal.
Ripple Price Short-term Prediction
As the XRPUSD 4-hour chart shows, the price of Ripple is in a bullish trend zone. At the moment, the 12-day EMA, as well as the 26-day EMA, are trending and indicating that XRP price was in a range bound movement. Earlier, the price of Ripple was ranging at the $0.31 price level. On April 1, the price is making a series of higher highs and higher lows.
Nevertheless, the price may face strong resistance at the price levels of $0.32 and $0.33 except for a price breakout stating otherwise. If this trend line is unbroken, then the ongoing bullish trend will continue. In the meantime, the Stochastic indicator is at the oversold region while above the 20% range, an indication that Ripple price is in a bullish momentum signalling a buy signal.
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26