XRP (XRP) Long-Term Analysis: Bearish
The price of XRP (XRP) has fallen to a low of $0.56 after two rejections from highs of $0.74 and $0.75. The altcoin was rejected during the rise of November 6. The upward trend could not be maintained by buyers above the resistance level of $0.74. XRP was rejected at a high of $0.73. On November 13, the coin’s price peaked at $0.75 before plummeting drastically above $0.64. The coin’s future upward trend is speculative.
At the time of writing, XRP/USD has plummeted to a low of $0.60. On the downside, the bears have broken through the 21-day simple moving average support. This suggests that bearish momentum will continue until the low above the 50-day SMA. This suggests a slide to a low of $0.56. Price turmoil will commence if the 50-day SMA support holds.
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10
XRP (XRP) Indicator Analysis
The altcoin’s price has begun to fall as it falls below the 21-day SMA. The coin is now trading above the 50-day simple moving average but below the 21-day simple moving average. The drop will extend to the 50-day SMA’s support. If the 50-day SMA support holds, the sideways movement will begin. If the bears violate the support level of the 50-day SMA, the selling pressure will continue.
What Is the Next Direction for XRP (XRP)?
The cryptocurrency asset will continue to fall until it reaches a low of $0.56. The decrease is currently caught between the moving average lines. The coin’s future trend will be determined by the price breaking through the moving average lines.
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