The price of XRP has risen above the historical norm and reached a high of $3.66.
XRP long-term analysis: bullish
In the meantime, the upward movement has stalled below the $3.60 mark, but has found support above the $3.00 low.
On the upside, the altcoin has risen to a high of $4.27. XRP is at risk of falling if the bears break below the $3.00 low or the 21-day SMA support. XRP will test its previous low of $2.40. Meanwhile, XRP has resumed its uptrend above the 21-day SMA support and its price is at $3.12 at the time of writing.
XRP price indicators analysis
The horizontal moving average lines are pointing upwards, signalling an uptrend. Given the recent price decline, the price bars on the 4-hour chart are below the moving average lines. The price action is characterised by doji candlesticks that have forced the altcoin to stay within a limited range.
Technical indicators:Â Â
Key Resistance Levels – $2.80 and $3.00
Key Support Levels – $1.80 and $1.60
What is the next move for XRP?
XRP is currently in a sideways trend below its high of $3.60. The 4-hour chart shows that XRP is trading above the $3.00 support but below the $3.60 barrier. The altcoin is trading above the $3.00 support level after being rejected twice at its recent peak. If the current support level holds, XRP will restart its upward trend.
Meanwhile, the cryptocurrency signal is good, with the price remaining above the moving average lines.
The price of XRP reached a new high of $3.66, but pulled back again, as reported by Coinidol.com on July 20.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
