The price of Ripple (XRP) has returned to a horizontal trend after reaching its recent high of $3.66.
XRP long-term analysis: bullish
The cryptocurrency has slipped below the $3.40 level. XRP has fallen above the moving average lines and is now trading above the 21-day SMA support, but below the $3.40 resistance level. XRP is falling below the 21-day SMA support, but the bulls are buying the dips.
However, bulls and bears are battling for the 21-day SMA support to gain control of the price action. If the , buyers sustain the price above the 21-day SMA support, the altcoin will rally upwards and retest or break through the $3.40 resistance level. A break above the $3.40 resistance will propel XRP to its previous high of $3.66. However, XRP will fall if it loses the 21-day SMA support. The altcoin will hit a low of $2.84.
XRP price indicators analysis
Today, XRP price fell below the 21-day SMA support as buyers tried to push the price back above it. The altcoin will fall if it is rejected at the recent barrier. When doji candlesticks appeared, the price movement remained motionless.
Technical indicators:Â Â
Key Resistance Levels – $2.80 and $3.00
Key Support Levels – $1.80 and $1.60
What is the next direction for XRP?
The price of XRP is bearish as it falls below the 21-day SMA support. On the 4-hour chart, the cryptocurrency price is trading above the $3.00 support and below the $3.40 resistance level. The crypto price has risen above the $3.00 support while the altcoins are consolidating back above this level. The presence of doji candlesticks is forcing XRP to move in a range.
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.
