In this Ripple price prediction, the XRPUSD pair is likely to experience intense selling pressure at the $0.32 and $0.31 price levels. What is next?
Ripple Price Prediction
Ripple (XRP) price was in a bearish trend yesterday, April 11, after the bulls met resistance at the $0.37 price level. The bears broke the $0.35, $0.34 and closed above the $0.32 price levels. On Thursday, it was predicted that if the bears are able to break the $0.34 price level, XRP price would drop into the previous range bound zone of $0.28 and $0.34 levels.
Currently, the price of Ripple is below the Exponential Moving Averages (EMAs), an indication that XRP price will decline further. On April 12, the price of XRP is approaching the price level of $0.32000. Ripple is likely to face intense selling pressure at the $0.32 and $0.31 price levels. Moreover, the price is likely to fall to the previous lows of $0.29 and $0.30.
In the meantime, if the bears reach the previous low of $0.31715 price level, the bullish gains will be eroded. At the moment, the Stochastic is in the overbought region while below the 60% range, an indication that the price of Ripple is in a bearish momentum and a sell signal.
XRPUSD Short-term Price Prediction
Looking at the 4-hour chart, the price of the XRPUSD pair is in a bearish trend. The price was trading above the $0.35 price level before climbing above the price level of $0.36. On Wednesday, the bears were able to break the $0.35 price level which resulted in a bearish trend.
Today, April 12, the price is targeting the lower price level of the previous price range. It is prudent for traders to get ready to initiate long trades if the price declines to $0.29 and $0.30 levels. In the meantime, the Stochastic indicator is in the oversold region while below the 20 % range, indicating that the price of XRPUSD pair is in a strong bearish trend and a sell signal.
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.33, $0.31, $0.29
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.