Ripple Is Falling as It Approaches Its Prior Low of $0.40
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Ripple (XRP) Long-Term Analysis: Bearish
The price of Ripple (XRP) is falling as it approaches its prior low of $0.40. The bearish selling pressure might persist. The altcoin is now selling at $0.45 as of this writing. Since the price decline on April 21, Ripple has been trading in a narrow range between $44 and $48. As it gets closer to the current support level of $0.44, the altcoin is falling. If the current support is broken, XRP will drop much further, to a low of $0.40. XRP will resume a bullish trend if the altcoin bounces back and breaks above the moving average lines.
Technical Analysis
Major Resistance Levels – $2.00, $2.50, $3.00
Major Support Levels – $1.50, $1.00, $0.50
Ripple (XRP) Indicator Analysis
Ripple is currently trading at level 44, as shown by the Relative Strength Index for period 14. The coin may tumble as it is in a bearish trend zone. The current fall is caused by the price bars being below the moving average lines. The altcoin daily stochastic is below level 80. The momentum of the coin is bearish.
What Is the Next Direction for Ripple (XRP)?
The price of XRP is moving sideways on the 4-hour chart as it approaches its prior low of $0.40. The altcoin’s price range is $0.44 to $0.48. The existence of Doji candlesticks has resulted in a lack of price movement. The altcoin will not trend if Doji candlesticks continue to dominate price action.
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