In today’s Ripple price prediction, if the bulls break above the EMAs, the XRPUSD pair will rise and retest the $0.46 overhead resistance level.
Ripple Price Technical Prediction
In retrospect, Ripple (XRP) price declined to the bearish trend zone on July 1. XRP price is now trading below the 12-day and the 26-day Exponential Moving Averages (EMAs), at the price of $0.38 and $0.40. On June 22, XRP bulls broke above the $0.46 overhead resistance and push the price to the $0.51 level. Nevertheless, the bulls met resistance as they were unable to sustain the price above the said level. As a result, on June 23, Ripple price had a downward correction as the bears broke the EMAs to reach a low of $0.40 level.
Today, July 8, the price of Ripple is below the EMAs, which is an indication that the price may further decline. On the upside, if XRP bulls break above the EMAs, the price will climb and retest the $0.46 overhead resistance level. On the downside, the price may fall or continue its range bound movement if the bulls fail to break the EMAs. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which suggests a buy signal.
XRPUSD Price Short-term Prediction
Looking at the 1-hour chart, XRPUSD price is in a sideways trend. On July 6, XRP bulls rose to a high of $0.41, nevertheless, they were resisted ans as a result, the price had a downward correction to the low of $0.39. At the moment, it is trading below the $0.40500 resistance level.
The 12-day and the 26-day EMAs are trending horizontally below the $0.40500 resistance level. On July 7, XRP bulls tested the $0.40500 price level twice but met resistance. On each occasion the bulls tested the resistance level, XRP price would drop below the EMAs. In the meantime, the MACD line and the signal line are below the zero line, indicating a sell signal.
- Resistance Levels: $ 0.44, $0.46, $ 0.48
- Support Levels: $0.38, $0.36, $0.34
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.