Ripple price started a downward correction after testing the $0.30 level. The XRPUSD pair must stay above $0.28 to bounce back in the short-term.
Ripple Price Medium-Term Prediction
Yesterday, October 15, the price of Ripple (XRP) was bearish in a bullish trend. The bulls rebounded and pushed the price above the $0.29 level and stopped at a new monthly high of $0.30. However, the bulls failed to continue the bullish momentum as there was a downside correction below the $0.29 support level.
Moreover, Ripple price declined towards the $0.28 support level, where the market currently trades. The bulls are currently rebounding but are facing resistance at the $0.29 level.
On the upside, If more buyers emerge, the coin will face resistance at the $0.30 price level. On the other hand, if the bulls fail to break the resistance, the sell-off may be extended towards $0.27. Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
XRPUSD Price Short-term Prediction
On the 1-hour chart, the XRP price is in a bullish trend. There is a major bullish trend line forming with support near $0.28. As long as the $0.28 support level remains unbroken, the price could bounce back. On the upside, a close above $0.29 is will trigger more upsides.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
- Resistance Levels: $ 0.29, $0.30, $0.31
- Support Levels: $0.28, $0.27, $0.26
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.