XRP Stabilizes Above $0.41 Following A Recent Dip Below It
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
XRP (XRP) Long-Term Analysis: Bearish
The XRP (XRP) price dropped to a low of $0.38 on July 5 following a recent dip below it. The bulls have halted the decline, with the altcoin trading between $0.40 and below the 21-day SMA or the resistance at $0.46. XRP is making an upward correction as buyers strive to keep the price above the 21-day SMA. A break above the 21-day SMA will carry the positive momentum above the 50-day SMA.
When the price breaks above the moving average lines, the crypto asset will resume its bullish trajectory. The altcoin will return to its earlier high of $0.57. However, if the altcoin is rejected at the 21-day SMA, XRP will fall to its present support of $0.40. The altcoin’s value will drop above $0.30 if it breaks below the current support level.
Technical Indicators:
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10
XRP (XRP) Indicator Analysis
Following the latest price drop, the long candlestick on July 5 points to the $0.38 support level. The extended candlestick tail indicates significant buying pressure at the $0.38 support. The price bars on the 4-hour chart are above the moving average lines, indicating an upward correction. The upward trend may be short-lived as it meets resistance near the $0.46 high.
Technical Indicators:
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10
What Is the Next Direction for XRP (XRP)?
The altcoin traded between $0.40 and $0.46 following a recent dip below it. The upward reversal meets an initial resistance near the high of $0.45. XRP has been repelled twice at its recent high, which could lead to a drop. The altcoin is now trading at a marginal level due to the prevalence of Doji candlesticks. The crypto signal will be bearish if rejected at the recent high.
You can purchase crypto coins here. Buy LBLOCK
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
