Today, July 15, Ripple price has declined and it is now approaching the $0.31 price level. Will the bearish trend continue? Gain insight into the following technical analysis.
Ripple Price Technical Prediction
In retrospect, Ripple (XRP) price had been in a bearish trend. The downward trend was started on June 23 after the bulls met resistance for failing to sustain the price above the $0.46 resistance level. In the previous week, Ripple price started ranging below the 12 and 26 day Exponential Moving Averages (EMAs) within the price range of $0.38 and $0. 40. It was assumed that if the bears break below the $0.38 price level, the price of Ripple will revisit the previous lows of $0.28 and $0.34 price level.
Today, July 15, XRP price has plunged and it is now approaching the $0.31 level. A trend line has been drawn to ascertain how long of the bearish trend will continue. A bearish trend is ongoing if the trend line remains unbroken. A bearish trend ends if price breaks the trend line and another candlestick closes on the opposite of it. In the meantime, the Moving Averages Convergence Divergence (MACD) line and the signal line are below the zero line which is an indication of a sell signal.
XRPUSD Price Short-term Prediction
Looking at the 1-hour chart, XRPUSD price is in a bearish trend. The 12 and 26 day EMAs are trending southward. The price of XRP is below the EMAs which is an indication that the price is declining. In the meantime, the MACD line and the signal line are below the zero line, which suggests 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.