In this Ripple price prediction, the bears are still in charge of the XRP market and this may push the price down to $0.27 demand level.
Ripple Medium-Term Price Prediction
The price of Ripple (XRP) is in the bullish trend zone in the medium-term outlook. On April 30, XRP price broke out of the symmetrical triangle and increased towards $0.33 level before it was terminated by the bears. The bears defended the supply level of $0.33 as the bulls were unable to break up the level, which then led to a sideways movement started as predicted earlier this week. Looking at the on the 4-hour chart, the outcome of the sideways movement is the formation of a flag chart pattern. The price flag down to $0.31 price level.
At the moment, Ripple price is consolidating on the 21 period and 50 periods Exponential Moving Averages (EMAs) are close to each other, which is an indication of an ongoing consolidation in the Ripple market.
However, the Relative Strength Index (RSI) period 14 is at 55 levels and the signal line pointing up, indicating a buy signal. On the upside, if the bulls gain sufficient momentum, a bullish breakout is expected and XRP price may rise to $0.33 level. On the other hand, if the bears defend the $0.31 price level, the XRP may range down towards $0.30 price level.
XRPUSD Short-term Price Prediction
In the short-term outlook, the XRPUSD pair is on the ranging trend. as the bulls lost momentum along the way before it reaches the price level of $0.33. The bulls started losing momentum after the bears terminated the upward movement, after which XRP started the consolidation with the formation of a flag chart pattern.
Currently, XRPUSD price is trading in-between and around the 21 period MA and 50 periods EMAs and are interlocked to indicate that consolidation is ongoing in the XRPUSD market.
- Supply levels: $0.31, $0.33, $0.34
- Demand levels: $0.30, $0.28, $0.27
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.