In this Ripple price prediction, if the XRPUSD pair retraces and breaks below the $0.46 level, it will dro to the previous range bound zone of $0.38 and $0.46 levels.
Ripple Price Prediction
In retrospect, Ripple (XRP) price was in a bullish trend last week as the $0.46 overhead resistance level was broken. Since on May 15, the price of Ripple had been trading below the $0.46 overhead resistance. However, on June 22, XRP bulls broke above the resistance to reach the $0.50 price level. Ripple price is now retracing from the $0.50 price level to the 12-day Exponential Moving Average (EMA) support level.
On the downside, the price of Ripple will drop to the previous range bound zone of $0.38 and $0.46 levels only if the price retraces and breaks below the $0.46 level. On the other hand, if Ripple price retraces and found support at the $0.46 price level, it will resume its upward move. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line and this is an indication of a buy signal
XRPUSD Price Short-term Prediction
As the 1-hour chart shows, XRPUSD price is in a bearish trend. Last weekend, XRPUSD price made an upward move and reached a high of $0.49 price level. However, XRP bulls met resistance and as a result, the price of XRP dropped to the support of the 26-day EMA. The bulls, however, pulled the price back up, above the EMAs but were resisted at the $0.49 resistance level.
XRPUSD price is below the 12-day and the 26-day EMAs which is an indication that price is likely to fall. Also, the bear pulled back price into the previous range bound zone, thus suggesting that XRPUSD price would resume its range bound move. In the meantime, the MACD line and the signal line are above the zero line which suggests a buy signal.
- Resistance Levels: $ 0.44, $0.46, $ 0.48
- Support Levels: $0.42, $0.40-, $0.38
Disclaimer
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.
