XRP Exhibits Bearish Exhaustion as It Bounces Above $0.46

XRP (XRP) Long-Term Analysis: Ranging
The price of XRP (XRP) returns to its existing support level of April 14 as it bounces above $0.46. In other words, the market has hit a low of $0.46. Since April 13, XRP has traded between $0.46 and below the moving average lines. Buyers have failed to sustain the price above the moving average lines for the last two months.

Today, if the altcoin rebounds, XRP will rise above the moving average lines. The bullish momentum will continue to the highs of $57 and $62. However, if the bears breach the present support at $0.46, XRP will fall to its prior low of $0.41. Meanwhile, the altcoin is trading at $0.47 as of this writing.

Technical  Indicators:
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10
 
XRP (XRP) Indicator Analysis  
Since June 7, the cryptocurrency’s price bars have retested the present support three times but failed to break through vital support. The Doji candlesticks are still present, slowing the price movement. The moving average lines exhibit a bearish crossover on both charts, indicating that the cryptocurrency is declining. 

What Is the Next Direction for XRP (XRP)?  
The 4-hour chart shows XRP trading in a tight range below the moving average lines as it bounces above $0.46. The altcoin has risen over an important support level at $0.46, but it stays below the 21-day SMA and resistance at $0.48. The altcoin is currently climbing as it approaches the resistance level of $0.48. The cryptocurrency signal is range-bound because the altcoin moves inside a narrow range.

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