Ripple (XRP) Faces Rejection at $0.40 as It Consolidates Above $0.38

Ripple (XRP) Long-Term Analysis: Bullish
Ripple’s (XRP) price is currently moving sideways as it consolidates above $0.38. The resistance level of $0.40 has ended the most recent surge. Doji candlesticks predominate in XRP price bars. These candlesticks show that buyers and sellers are unsure of the market’s course. On the plus side, given the price action’s signal of Doji candlesticks, greater increases are improbable. Additionally, since November 9 the resistance at $0.40 has been intact. Due to rejection at the most recent high, the value of the cryptocurrency asset will decline. The altcoin’s price will drop and fluctuate between $0.31 and $0.40. If the price slips below the moving average lines, selling pressure will pick up again. The altcoin is now consolidating above the $0.38 support.

Ripple (XRP) Indicator Analysis
Ripple is trading in the uptrend zone at Relative Strength Index level 62 for period 14. The price of XRP can rise as long as price bars remain above the moving average lines. For example, XRP will fall if the price bars fall below the moving average lines. XRP is dropping below the daily Stochastic level of 30. The sideways trend is indicated by the moving average lines.

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)?
The price of Ripple (XRP) has created a bearish double top as it consolidates above $0.38. According to this pattern, Ripple will eventually reach its former lows. If the altcoin maintains its position above the moving average lines, the rise could resume.

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