Ripple price has not been able to appreciate after the downtrend correction. Will the XRPUSD pair break or bounce? Gain insight into the following technical prediction.
Ripple Price Technical Prediction
Yesterday, July 25, Ripple (XRP) price was in a range-bound movement below the 12and 26-day Exponential Moving Averages (EMAs). Over the last couple of days, the price of Ripple had been ranging below the EMAs and has been unable to appreciate after the downtrend correction. XRP bulls are now facing resistance at the 12-day EMA.
On the upside, if XRP bulls break above the EMAs, Ripple price will commence its bullish trend and retest the $0.40 and $0.46 resistance level. On the downside, XRP price will continue to range below the EMAs if the bulls are unable to break the EMAs. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which suggests a sell signal.
XRPUSD Price Short-term Prediction
As the 1-hour chart shows, XRPUSD price is in a bullish trend. The 12 and 26-day EMAs are trending northward. The price of XRPUSD is above the EMAs, indicating that the price is likely to rise.
On July 25, XRP bulls tested the $0.32 price level but they were resisted. XRP price declined to the support of the 12-day EMA and probably commence another bullish trend. In the meantime, the MACD line and the signal line are above the zero line, which is an indication of a buy signal.
- Resistance Levels: $ 0.44, $0.46, $ 0.48
- Support Levels: $0.31, $0.29, $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.