XRP’s Price Violates The Support At $0.46 But Subsequently Rises
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XRP (XRP) Long-Term Analysis: Ranging
The XRP (XRP) price has broken below the moving average lines and the current support level of $0.46 but subsequently rose. The cryptocurrency’s price has dropped back within the existing range of $0.46 to $0.57. The altcoin is trading above the $0.46 support. The range-bound movement will continue if the existing support holds.
However, if the bears violate the $0.46 support level, the altcoin will fall to prior lows of $0.45 and $0.41. The moving average lines are currently impeding the rising trend. XRP/USD is now worth $0.48 at the time of 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
Following the price drop on June 7, the price bars have returned below the moving average lines. On June 7, the candlestick has a lengthy tail, indicating strong buying pressure near the $0.45 support. The moving average lines have continued to slide lower, with a bearish crossover.
What Is the Next Direction for XRP (XRP)?
On the 4-hour chart, XRP is declining below the moving average lines but subsequently rises. The 21-day SMA is restricting the upward movement of the coin. The altcoin has remained above the current support level for the past 48 hours. The crypto signal will be range-bound as it remains above the present support.
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