Ripple price started to decline after the bulls failed to break above the $0.30 resistance level. Now the XRPUSD pair must stay above the $0.28 support level to avoid further downsides.
Ripple Price Medium-term Prediction
Yesterday, October 22, the price of Ripple (XRP) was in a bullish trend below the 12-day and 26-day Exponential Moving Averages (EMAs). The crypto’s price has slowly been on the rise since September 30. Yesterday, the bulls strongly control the market as they attempted to surpass the $0.30 resistance level.
However, the bulls failed to push the price higher and Ripple price started to decline below the $0.29 level. At the time of writing, the $0.28 is acting as a support level for XRP.
On the upside, if more buyers emerge, the coin will face resistance at the $0.29 and $0.30 price levels. Nevertheless, Ripple price must stay above the $0.29 level to start a fresh increase. On the other hand, if the bulls fail to break the resistance levels, the crypto’ price will drop towards the $0.26 and $0.25 price levels.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
XRPUSD Price Short-term Prediction
On the 1-hour chart, XRPUSD price is in a bearish trend. The 12-day and 26-day EMAs were trending horizontally but are now pointing southward. Today, the price of XRP is falling, if the bearish trend continues, the market will drop to a low of $0.27 price level.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
- Resistance Levels: $ 0.29, $0.30, $ 0.32
- Support Levels: $0.28, $0.27, $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.