Ripple Is in a Range but Faces Resistance at $0.48

Ripple (XRP) Long-Term Analysis: Bearish
Ripple (XRP) has been pinned between the moving average lines but faces resistance at $0.48. The moving average lines have not been broken by either the bulls or the bears. The price of the cryptocurrency has been consolidated above either the 50-day SMA or the $0.44 support. Since April 21. XRP is currently trading for 0.47 at the time of writing. If the moving average lines are broken, the altcoin will trend. For instance, XRP will resume a positive trend if the price of the cryptocurrency crosses the barrier at $0.50 or the 21-day SMA. The altcoin will surpass the $0.55 high. On the other hand, if sellers breach either the 0.44 support or the 50-day SMA, selling pressure on the altcoin may increase once more. The price of XRP will drop to a low of $0.35.


Ripple (XRP) Indicator Analysis
The Relative Strength Index for period 14 indicates that Ripple is at level 47. The altcoin is entrapped between the moving average lines and in the bearish trend zone. As long as XRP remains between the moving average lines, the sideways movement can continue. The altcoin is currently in a positive momentum as it moves closer to the overbought area of the market. The cryptocurrency asset is above the daily Stochastic level of 80.

  Technical Analysis

Major Resistance Levels – $2.00, $2.50, $3.00

Major Support Levels – $1.50, $1.00, $0.50

What Is the Next Direction for Ripple (XRP)?
The Ripple is moving sideways but faces resistance at $0.48. The upward correction is currently being obstructed by the $0.48 high. The price of the coin has ranged from $0.44 to $0.48. The altcoin will trend if these levels are crossed. In the interim, the swings will continue.

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