Ripple price needs to regain ground above $0.30 resistance level to continue the bullish trend. Meanwhile, XRPUSD pair is currently moving within a short-term bearish trend.
Yesterday, November 4, the price of Ripple (XRP) price was in a bullish trend. The crypto’s price broke above the levels of $0.28 and $0.29 and settled above the $0.30 resistance level. As a result, Ripple price started correcting lower. At the time of writing, XRP is changing hands at the $0.29 level.
On the downside, a break below the $0.29 level could extend towards the $0.28 and $0.26 support level. On the upside, if more buyers emerge, the bulls will face resistance at the $0.32 and $0.33 price levels.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
On the 1-hour chart, the XRP price is in a short term bearish trend. The pair is showing a lot of positive signs above the $0.2980 and $0.2992 support levels. As long it does not decline below $0.2980, there are high chances of more gains above the $0.3060 resistance in the short term.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a 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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