XRP Slips below $0.52 and Begins to Trade in a Range
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XRP (XRP) Long-Term Analysis: Bearish
The XRP (XRP) price has dropped below the 21-day SMA and begins to trade in a range. In prior price activity, buyers pushed XRP above the moving average lines but were stopped at the 50-day SMA. The altcoin has declined and is approaching the current support level of $0.46. Since April 13, the altcoin has been trading above the $0.46 support level but below the moving average lines.
The crypto fell on May 3 as a result of a false breakout above the 21-day simple moving average. XRP/USD is now trading at a low of $0.48. On the negative, if the bears violate the $0.46 support, the altcoin will fall to its previous low of $0.41. On the other hand, if the $0.46 support holds, the altcoin will resume its prior range.
Technical Indicators:
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10
XRP (XRP) Indicator Analysis
XRP was previously limited between the moving averages for 48 hours until the bears broke below the 21-day SMA. The altcoin will fall because the price bars are below the moving average lines. The moving average lines exhibit a bearish crossover, which indicates a negative signal.
What Is the Next Direction for XRP (XRP)?
XRP fails to sustain its bullish ascension above moving average lines and begins to trade in a range.The crypto’s price has dropped over the current support level of $0.46 and below the moving average lines. The altcoin’s price is hovering above the current support level; if it holds, the range bound move will begin. The crypto signal will be range bound as the altcoin returns to its range.
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