XRP Slumps as It Revisits the Critical Support at $0.48

XRP (XRP) Long-Term Analysis: Bearish

The XRP (XRP) price is in a sideways trend as it revisits the critical support at $0.48. The altcoin has remained range-bound, trading between the $0.48 support and the $0.64 resistance. On August 24, XRP was repelled at the $0.64 resistance zone, causing it to fall below the moving averages. The altcoin fell to a low of above $0.54. XRP is trading above the present support but below the moving average lines.

If the present support is breached, the altcoin will fall to the next support level of $0.48. However, if buyers retain the price above the moving average lines, the altcoin will restart its positive trajectory. Currently, the altcoin is still trading below the moving average lines.

Technical  Indicators:

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

XRP (XRP) Indicator Analysis  

The XRP price bars are bouncing below the moving average lines. The existence of Doji candlesticks has caused price movement to remain stationary. The moving averages are sloping horizontally, with a bearish crossover. The 21-day SMA is below the 50-day SMA, indicating a bearish trend.

What Is the Next Direction for XRP (XRP)?  

XRP is range-bound and trading below the moving average lines as it revisits the critical support at $0.48. The altcoin has found support above the $0.54 level. When the current support level of $0.54 is breached, the altcoin will continue to drop. Meanwhile, the crypto signal is negative, with the altcoin trading in the bearish trend zone.

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