Ripple price is holding the main $0.27 support level and is recovering nicely above $0.28 level. Will the uptrend continue?
Ripple Price Medium-term Prediction
Yesterday, October 25, the price of Ripple (XRP) was in a bullish trend. Recently, the bears broke the $0.28 support level and settled below the 21 Simple Moving Average (SMA). Finally, there was a spike below the $0.26 support level and the price traded to a new weekly low at $0.24.
However, there was a sharp recovery yesterday and the price rose above $0.25 and $0.26. Ripple price is now trading at the $0.28 level.
On the upside, if more buyers emerge, the coin will find resistance at the $0.30 and $0.34 levels. On the downside, if the bulls fail to push the price above the overhead resistance level, the coin might remain range-bound.
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, the XRP price is in a bearish trend. Today, the XRP price is falling, if the bearish trend continues, the market could decline once again below the $0.27 level. The main support for ripple is near the $0.26 level, below which it could revisit the $0.25 support level in the short term.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
- Resistance Levels: $ 0.30, $0.34, $ 0.40
- Support Levels: $0.27, $0.25, $0.26
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.