In this Ripple price prediction, the XRPUSD pair declined to a low at $0.31687. Is there a possibility that the price will revisit the previous lows of $0.29 and $0.30?
The price of Ripple (XRP) traded in the bearish trend yesterday, April 15. The price crashed to the low at $0.32 price level. At the moment, XRP price is below the 12-day Exponential Moving Average (EMA) as well as the 26-day EMA which is an indication that the price is likely to decline. Ripple price is in the previous range bound zone which means that it will likely to revisit the previous lows of $0.29 and $0.30.
In the meantime, XRP bulls is expected to make an initial attempt to break the 12-day and the 26-day EMAs to the upside; but they may meet resistance. On the other hand, if the bulls are unable to break these EMAs, the price of XRP will drop and decrease to the lows of either $0.29 or $0.30 price levels.
However, if the bulls are able to break above the EMAs and sustain the price above it, there is a possibility that the bulls will test the price levels of $0.34 and $0.37. In the meantime, the Stochastic is in the oversold region while below the 20% range, thus indicating that the price of Ripple is in strong bearish momentum and a sell signal.
Looking at the 4-hour chart, XRPUSD price is in a bearish trend zone. Last week, the price dropped to a low at $0.33 and resumed a range bound movement that was resisted at the 26-day EMA which eventually led to downward momentum.
Yesterday, April 15, XRP price declined to a low at $0.31687 and then resumed a bullish trend movement. Today, April 16, XRPUSD price is likely to decline further if the crypto’s price is resisted by the EMAs. In the meantime, the Stochastic indicator is in the oversold region while above the 20% range, indicating that the XRP price is in a bullish momentum and a buy signal.
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.
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
