Ripple price has gone up from $0.18 to $0.19 before giving a bearish signal earlier today. Will the downtrend continue?
Ripple Price Medium-term Analysis
Yesterday, December 25, the price of Ripple (XRP) traded above the $0.20 resistance level. After several failed attempts to break above the $0.20 resistance level, Ripple price started to decline.
The price settled below the $0.19 support level and this opened the doors for more losses towards the $0.18 level. Nevertheless, Ripple price is currently correcting higher. At the time of writing, the coin has recovered to $0.19 level.
On the upside, if more buyers emerge, the coin will recover above the $0.20 level. On the downside, if the bearish pressure continues, the crypto’s price will drop to the support levels of $0.18 and $0.17.
XRPUSD Price Short-term Analysis
On the 1-hour chart, the XRP price is in a sideways trend. Today, the XRP price is rising, if the uptrend continues, the market will revisit the $0.2050 price level. For the upside to gain traction, the coin must break the $0.2050 and $0.21.20 resistance level.
If not, the price may perhaps continue to move down below $0.1860 and $0.1850. Additionally, the next major support is near the $0.1800 level, below which there is an open space up to $0.1720.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
- Resistance levels: $0.21, $0.22, $0.23
- Support levels: $0.18, $0.17, $0.16
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.