Ripple Reaches a High of $0.51 but Enters an Overbought Zone
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Ripple (XRP) Long-Term Analysis: Bearish
Ripple (XRP) price has resumed a positive trend but entered an overbought zone. To move above the moving average lines, the crypto asset will try to rise. XRP has risen to a high of $0.48 today and is moving closer to the overbought area. The price indication predicts that the market will increase further, peaking at $0.51. Nevertheless, the current period’s high was $0.55. On March 29, the surge reached the $0.55 price level. The bulls have not yet broken the overhead barrier at $0.55. The market is currently overbought, making additional price movement improbable.
Technical Analysis
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10
Ripple (XRP) Indicator Analysis
As it hits level 61 of the Relative Strength Index for period 14, Ripple has made progress. Ripple is in the bullish trend zone because the recent bullish momentum will persist. The price bars of the cryptocurrency is currently above the moving average lines, which causes XRP to climb. As XRP trades in the overbought area, the price of the cryptocurrency is anticipated to decline. The market has recovered above the daily Stochastic level of 80, a sign of bearish weariness.
What Is the Next Direction for Ripple (XRP)?
XRP has climbed to a high of $0.51 but entered an overbought zone. The coin did not surpass its prior peak of $0.55. XRP is currently trading in an overbought region of the market. The altcoin is probably going to be rejected at its current peak.
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