XRP Surpasses Key Support and Returns to the $0.48 Low
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XRP (XRP) Long-Term Analysis: Bearish
The XRP (XRP) price falls below the moving average lines and returns to the $0.48 low. On April 12, the cryptocurrency price fell significantly, breaching the $0.56 support. The altcoin plummeted to a low of $0.50 as bulls purchased dips. The altcoin is predicted to hit its prior low of $0.48. On the downside, if XRP falls and remains above the $0.48 support, the altcoin will be forced into a range-bound move above the current level.
The altcoin will trade above the $0.48 support level and below the $0.60 resistance or moving average lines. The cryptocurrency would resume a positive trend if it breaks above the moving average lines or the resistance at $0.60.
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 price bars have dropped significantly below the moving average lines, reaching a previous low of $0.48. The price bars are indicated by Doji candlesticks that have consolidated above the $0.53 support. On April 12, the lengthy candlestick tail implies significant buying pressure at the $0.51 support.
What Is the Next Direction for XRP (XRP)?
XRP returns to the $0.48 low but pulled back. The altcoin’s descent has hit bearish fatigue as it hovers above the current support level of $0.48. On April 12, the altcoin reached a low of $0.50 before recovering. Today, selling pressure has returned as XRP returns to the current support level of $0.48.
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