From today’s Ripple price prediction, if the bearish pressure continues for the XRPUSD pair, the price may drop to the previous range bound zone. What is next?
Ripple Price Technical Prediction
In retrospect, Ripple (XRP) price traded above the $0.46 overhead resistance ast month, however, the bulls were unable to sustain the price above that level. On June 22, the price rose to a high of $0.51 but was resisted. The price of Ripple retraced to the support of the 26-day Exponential Moving Average (EMA) and started a range bound movement above the 12-day and the 26-day EMAs. On June 26, XRP bulls made an upward move to retest the $0.48 and $0.50 resistance level.
Nevertheless, the bulls met resistance and the Ripple price had a downward correction to a low at $0.40 price level. XRP price is now trading below the EMAs which is an indication that the price is likely to fall. On the downside, if the bearish pressure continues, the price of Ripple may drop to the previous range bound zone. On the other hand, XRP price will rise to retest the $0.46 level if the bulls break above the EMAs.
XRPUSD Price Short-term Analysis
As the 1-hour chart shows, XRPUSD price is in a bearish trend zone as the pair faces resistance at the $0.43 and $0.42 level. On June 30, the bulls met resistance and the price dropped below the EMAs at a low of $0.41level. At each price fall, the bulls will range to test or break the 12-day EMA.
Nevertheless, XRP bulls could not break the 12-day EMA until the price dropped to the low at $0.39 level. XRPUSD price tested the low at $0.39 and made an upward move to reach the bullish trend zone. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which suggests a sell signal.
- Resistance Levels: $ 0.44, $0.46, $ 0.48
- Support Levels: $0.40, $0.38, $0.36
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.