In this Ripple price prediction, if the price is sustained above the EMAs XRP bulls will retest or break the $0.32500 resistance level.
Ripple Medium-Term Price Prediction
On May 6, the price of Ripple (XRP) was in a bearish trend zone as it was at the $0.31 support level. It was presumed that the XRP price might further decline to its previous low, however, the bulls were able to defend the $0.31 price level. On May 7, the bulls have broken the 12-day and the 26-day Exponential Moving Averages (EMAs) to reach the bullish trend zone.
The bulls have been able to hold the $0.32500 resistance level since April 23. However, if the bulls are unable to break the said resistance level, Ripple price will drop to the support or further below the EMAs. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line, an indication of a sell signal. The price of XRP is above the EMAs and this suggests that the crypto’s price is in the bullish trend zone.
XRPUSD Short-term Price Prediction
Looking at the 1-hour chart, XRPUSD was in a bearish trend zone at the $0.31081 price level. However, while the $0.31 support level was holding, the bulls broke the 12-day and the 26-day EMAs to reach the bullish trend zone. XRPUSD price is now above the EMAs which is an indication that price is likely to rise.
Currently, the pair is facing resistance at the $0.32200 price level. In the meantime, the price is above the EMAs which suggest that price is in the bullish trend zone. Also, the MACD line and the signal line are above the zero line, indicating a buy signal.
- Resistance Levels: $ 0.61, $0.63, $ 0.65
- Support Levels: $0.31, $0.29, $0.27
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.