XRP Pauses As Buyers Defend The Current Support At $0.50

XRP (XRP) Long-Term Analysis: Bearish
XRP (XRP) price is in a range bound rise as buyers defend the current support at $0.50. The bearish trend has paused as the altcoin consolidates above the $0.50 support. Since August 17, there has been no change in the price of XRP due to the existence of Doji candlesticks. The price of XRP/USD is $0.52 at the time of writing. On the plus side, the cryptocurrency was repelled twice at the $0.56 barrier or the 21-day simple moving average.

The altcoin is retracing to the present support in order to maintain its range-bound movement. On the downside, buyers are now defending the existing support as the altcoin remains above it.XRP’s upward trajectory will resume if it rises above its present support.

Technical Indicators
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10

XRP(XRP) Indicator Analysis
For period 14, XRP is stabilizing above the current Relative Strength Index support level, which is 36. The altcoin entered the oversold zone before correcting upward. Evidently, the altcoin has a bearish momentum below the daily Stochastic’s level of 40.

What Is the Next Direction for XRP (XRP)?
The crypto’s price has stayed the same as buyers defend the current support at $0.50. The price bars and moving average lines on the 4-hour chart are horizontally flat, indicating a horizontal trend. XRP is currently falling as a result of the rejection at the $0.56 high. If the price remains above the $0.50 support level, the price will return to its range-bound nature.

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