Ripple price is under bearish pressure and is trading below the $0.28 level. Will the downward trend continue? Gain insight into the following prediction.
Ripple Price Technical Prediction
Last week, the price of Ripple (XRP) was in a bullish trend above the 12-day and the 26-day Exponential Moving Averages (EMAs). On September 18, Ripple price experienced a sudden bullish surge to the monthly high at $0.32 resistance level. However, the bulls failed to break the $0.32 resistance level and the price declined slightly to $0.27 level, where it is currently trading. The market is now in a bearish trend.
On the downside, if the downward trend continues, the coin will decline to last week’s breakout level of $0.26 price level.
On the other hand, if more buyers emerge, the crypto’ price will rise towards the levels of $0.28 and $0.30 price levels. Meanwhile, the Moving Averages Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
XRPUSD Price Short-term Prediction
On the 1-hour chart, XRPUSD price is in a bearish trend below the 12-day and 26-day EMAs. The market could trade in a range in the short-term below $0.27. However, the price must hold above the $0.26 support level to commence the uptrend in the short-term.
The XRPUSD pair was facing resistance at the $0.32 price level and it retraced below the EMAs. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
- Resistance Levels: $0.28, $0.29, $0.0.30
- Support levels: $0.26, $0.25, $0.24
Arathur 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.