In this Ripple price prediction, the XRP bulls are currently opposing the decrease in the price that may rise towards $0.31 level.
Yesterday, Ripple (XRP) price was in the bearish trend zone. As it was predicted on May 7, the Bears exerted pressure and the bulls were able to defend the $0.30 demand level and the price fell towards the demand level of $0.28. At the moment, the bulls are opposing the decrease by the formation of a strong bullish candle, pulling the XRP price back up towards $0.30.
The bears are in control of the XRP market by as the crypto trades below the 21 periods and 50 periods Exponential Moving Averages (EMAs) in which indicates an increased bearish pressure. In the meantime, the Moving Average Convergence and Divergence (MACD) period 12 is below zero lines, which indicates a buy signal.
On the downside, if the bears are able to defend the $0.30 price level, XRP price will further decline and may lead to the breakdown of the $0.28 level. On the upside, if the bulls defend the demand level of $0.28, the price of Ripple may reverse and rise towards the previous high.
On the short-term outlook, XRPUSD price is on the bearish trend zone as the bulls failed to defend the $0.30 level. As a result, XRP price declined towards the $0.28 level after the penetration of the $0.30 level.
In the meantime, XRP bulls are trying to defend the $0.28 level to prevent the price from declining further.XRPUSD price is now trading below the two EMAs. The 21 periods and 50 periods EMAs are well fanned apart to indicate a strong sell 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.
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