Ripple price is struggling to correct higher and it is likely to decline again if it fails to surpass $0.270 support.
Ripple Price Medium-term Prediction
Yesterday, November 11, the price of Ripple (XRP) was in a bearish trend. Recently, the coin declined sharply below the $0.310 resistance level. Moreover, Ripple price declined heavily and broke many supports near the $0.295 and $0.285 levels.
Moreover, there was a close below the $0.285 level and the 9-day and 21-day moving averages. As a result, there was a break below $0.280 and the price traded as low as $0.270. At the time of writing, the coin is changing hands at the 0.272 support level
On the upside, if more buyers emerge, the coin will face resistance at the $0.290 and $0.30 price levels. On the downside, the coin will find support at the $0.265 and $0.260 price levels.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
XRPUSD Price Short-term Prediction
On the 1-hour chart, XRPUSD price is in a bearish trend below the $0.2800 and $0.2840 resistance level. A convincing close above $0.2840 is needed for the price to move into a bullish zone. If not, there is a risk of more losses below $0.2700.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
- Resistance levels: $0.290, $0.300, $0.320
- Support levels: $0.270, $0.265, $0.260
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.