Ripple price is sliding and it is under pressure below the $0.22 resistance level. The XRPUSD pair is could decline further below $0.21 level.
Ripple Price Medium-Term Prediction
Last week, the price of Ripple (XRP) was trading in a range-bound move. On November 25, after the last bearish trend, Ripple price dropped to a low of $0.20. For the past three weeks, XRP has failed to move up to higher price levels. The coin has been fluctuating between the levels of $0.20 and $0.23.
However, the coin has not been able to trade below levels $0.20 and above $0.23. At the time of writing, Ripple price is trading at the $0.21 level.
On the upside, if more buyers emerge, the coin will rise and retest the $0.22 and $0.23 level. This will likely open the doors for more upsides above the $0.24 level. On the downside, if the downward move continues and breaks below $0.20, the downtrend will resume towards the $0.18 support level.
In the 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 Analysis
On the 1-hour chart, BTCUSD price is clearly declining heavily and it seems like the bears are targeting further losses below $0.2100. If they remain in action, the price is likely to test the main $0.2000 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: $0.21, $0.23 $0.25
- Support levels: $0.20, $0.18 $0.16
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.