Ripple price will continue its range-bound movement between the levels of $0.28 and $0.34 if XRP bulls are unable to break the EMAs.
Ripple Price Technical Analysis
In retrospect, Ripple (XRP) price was trading in the bearish trend zone. XRP is in the previous range bound zone of $0.28 and $0.34. On July 16, the downward trend was corrected at the support of the $0.29 price level. On July 17, XRP bulls made an upward move to break above the Exponential Moving Averages (EMAs) but they met resistance.
This resistance at the 12-day EMA, led the price of Ripple to resume a range-bound movement below the EMAs. On the upside, if XRP bulls break above the 12 and the 26-day EMAs, the price of Ripple will face resistance at the $0.34 price level. On the downside, if the bulls are unable to break the EMAs, Ripple price will continue its range-bound movement between the levels of $0.28 and $ 0.34. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which is an indication of a sell signal.
XRPUSD Price Short-term Analysis
As the 1-hour chart shows, XRPUSD price is in a sideways trend. The 12 and 26-day EMA are trending horizontally. On July 27, XRP bulls met resistance at the $0.32600 price level and the price of XRP went on a downward correction to a low at $0.29 price level.
XRPUSD price is now on a range movement above the $0.29 price level but characterized by small body candlestick. The small body candlestick indicates that buyers and sellers are indecisive about the current price. In the meantime, the MACD line and the signal line are above the zero line, indicating a buy signal.
- Resistance Levels: $ 0.44, $0.46, $ 0.48
- 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.