Ripple Is Stuck In A Range as It Approaches The Overbought Zone

Ripple (XRP) Long-Term Analysis: Bullish
Ripple (XRP) is recovering after breaking above the 50-day SMA as it approaches the overbought zone. XRP dropped below the moving average lines but climbed back above the 50-day SMA in the previous price action. At the time of writing, XRP is trading at $0.49. The cryptocurrency asset is trading in the range of the moving average lines. When the moving average lines are broken, cryptocurrencies will trend. When the 21-day SMA is breached, XRP will rally above the $0.55 high. Nonetheless, XRP will be forced to move sideways between the moving average lines if it fails to break through the recent high. Meanwhile, the altcoin is stuck between the moving average lines.

Technical Indicators
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10

Ripple (XRP) Indicator Analysis
Ripple is trading in the bullish trend zone at the Relative Strength Index level 60 for period 14. The coin has the potential to rise even further. Nonetheless, XRP is trapped between the moving average lines, the altcoin may be forced to make a range-bound move. The crypto asset is rising above level 50 of the daily Stochastic.

What Is the Next Direction for Ripple (XRP)?
Ripple is rising while it is trading between the moving average line as it approaches the overbought zone. The current uptrend may be rejected at the 21-day simple moving average. Aside from that, the altcoin is approaching the market’s overbought zone. As long as it trades in the bullish trend zone, XRP will continue to rise.

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