Ripple Struggles below the Recent High as It Targets the $0.62 High
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Ripple (XRP) Long-Term Analysis: Bullish
Ripple (XRP) is stalled at the recent high but targets the $0.62 high. At the time of writing, the cryptocurrency asset is currently selling for $0.51. XRP is currently trading above the moving average lines but below the $0.55 barrier level. If the 21-day SMA is broken, XRP will fall on the downside. Cryptocurrency will drop to a low of $0.40. If the bulls are successful in breaking over the present resistance level at $0.55, XRP will increase to a high of $0.62. XRP is consolidating above the moving average lines in the interim.
Ripple (XRP) Indicator Analysis
For period 14, Ripple is at level 60 on the Relative Strength Index. The coin is in a positive trend zone and could soar even higher to reach its prior highs. The price bars continue to be above the moving average lines, which will cause the currency to move more higher. XRP is moving in a bearish direction above the daily Stochastic threshold of 40.
Technical Analysis
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)?
Ripple is trading above the moving average lines as it targets the $0.62 high. The price of the cryptocurrency will rise as long as the price bars are above the moving average lines. Ripple’s price will decline if it drops below the 21-day SMA. On the other hand, the upward trend will resume if the price crosses the $0.55 resistance level.
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