Ripple (XRP) Trades Marginally as It May Face Resistance at $0.40

Ripple (XRP) Long-Term Analysis: Bullish
Ripple (XRP) price has broken above the 21-day SMA and it may face resistance at $0.40. In the past, XRP was restricted to trading between the moving average lines. The bulls surpass the 21-day line SMA on February 20. The altcoin retreated above the 21-day line SMA, indicating that the breakout was minor. As long as the price bars are above the moving average lines, XRP should increase. The $0.40 ceiling will stop the cryptocurrency’s further ascent. If buyers succeed in breaking through the initial resistance, the altcoin will retest the $0.42 high. Currently, Doji candlesticks have been used to describe price movement. This will cause a small movement in XRP. If the price drops below the moving average lines, the downtrend will resume. The price of XRP will drop to lows between $0.34 and $0.36.

Ripple (XRP) Indicator Analysis
The current bullish momentum has pushed XRP to level 51 of the Relative Strength Index for period 14. The RSI indicates that XRP has reached the equilibrium price level as demand and supply balance. XRP is in a bullish momentum above level 40 of the daily Stochastic level.

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)?
Ripple has broken above the 21-day line SMA but may face resistance at $0.40. Also, the altcoin has regained bullish momentum, $0.40 may prove to be a barrier. If the price breaches the initial resistance level, the cryptocurrency will properly resume its upward trend.

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