Ripple Is in a Range as It Revisits the $0.48 Low
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Ripple (XRP) Long-Term Analysis: Bullish
Ripple (XRP) price is now retracing after encountering resistance at $0.54 as it revisits the $0.48 low. XRP has been drifting sideways as buyers have been unable to reach the most recent high. XRP is now sliding after being rejected at the most recent high. If the overhead barrier is broken, the altcoin will soar to a high of $0.60. The cost of XRP is $0.52 at the time of writing. On the other hand, if it is rejected and declines below the moving average lines, XRP will be compelled to perform a range-bound move. For instance, if XRP declines to a low below $0.40, it will trade on the downside in a range between $0.40 and $0.54. Presently, it is hovering above the moving average lines in anticipation of a bullish trend.
Technical Indicators
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10
Ripple (XRP) Indicator Analysis
Although XRP has retraced above the moving average lines, it is still in a bullish trend zone. The Period 14 Relative Strength Index is at level 60. Ripple will rise as the price bars are above the moving average lines. The altcoin is in a rising trend when the daily Stochastic is more than 50.
What Is the Next Direction for Ripple (XRP)?
Ripple is currently retracing above the moving average lines as it revisits the $0.48 low. Additional upward movement is likely if the price of XRP rises above the moving average lines. The price of XRP will trade in a range between $0.50 and $0.55 if it stays above the moving average lines.
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