In this Ripple price prediction, the XRPUSD pair will revisit the highs of $0.33 and $0.34 if the bulls are able to break the 12-day and the 26-day EMAs.
Ripple Price Prediction
Last week, the price of Ripple (XRP) price was in a bearish trend that was terminated on April 26. XRP price declined from a high of $0.33 to the $0.29 support level. On the same day, a bullish candlestick broke and terminated the bearish trend line.
This week, Ripple price is likely to rise as the bulls are attempting to break the 12-day and the 26-day Exponential Moving Averages (EMAs). On the upside, if the bulls are able to break the said EMAs, the price of XRP will revisit the highs of $0.33 as well as the $0.34. On the other hand, if the bulls are unable to break these EMAs, XRP price will either decline or resume a bound movement.
At the moment, the price is trading at $0.30, which is the previous low on March 25. At this price, the bulls broke above the EMAs and climbed to a high of $0.37. Ripple price can repeat the same price action. In the meantime, the stochastic is in the oversold region while above the 20% range, an indication that the price of Ripple is in a bullish trend and a buy signal.
XRPUSD Short-term Price Prediction
Looking at the 4-hour chart, the XRPUSD pair was in a bearish trend in the last week. The XRP bulls tested the resistance level of $0.33 On April 22 and 23, but they were resisted and the price declined to the $0.29500 support level. Again, the bulls made an upward correction but met resistance at $0.30500 price level. As a result, in the price dropping to the low at $0.29000.
The bulls are in charge of the price as the XRP price is in the bullish trend zone. Currently, the price is facing resistance at the $0.31 price level. I the meantime, the stochastic indicator is in the overbought region while above the 60% range, suggesting that the Ripple price is in a bullish trend and a buy signal.
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.29, $0.27, $0.25
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.