Ripple Rebounds Above $0.75 but Struggles Below $0.80 High
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Ripple (XRP) Long-Term Analysis: Bullish
Ripple’s (XRP) price is in an upward move but struggles below $0.80 high. The uptrend is likely to face resistance at a high of $0.80. However, if bulls break the resistance at $0.80, XRP will rally to $0.90 and $1.00 price levels. Ripple will resume upside momentum if price breaks above the $1.00 overhead resistance. Conversely, if the bulls fail to break above the $0.80 resistance, XRP/USD will fall and resumes a range-bound move between $0.68 and $0.80 price levels.
Ripple (XRP) Indicator Analysis
The cryptocurrency is at level 52 of the Relative Strength Index for period 14. The altcoin is in the uptrend zone and capable of a further upward move. Ripple price bars are above the 21-day line and the 50-day line moving averages indicating a possible rise of the coin. XRP is presently above the 80% range of the daily stochastic. It indicates that XRP is likely to fall.
Technical indicators:
Major Resistance Levels – $2.00, $2.50, $3.00
Major Support Levels – $1.50, $1.00, $0.50
What Is the Next Direction for Ripple (XRP)?
On the 4 –hour chart, XRP is in a range bound move but struggles below $0.80 high. The current uptrend is facing rejection at $0.77 as the market reaches the overbought region. The upward movement will continue if price retraces above the moving averages. XRP will resume downward correction if price breaks below the moving averages.
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