The price of XRP has levelled off below the $2.65 resistance and above the $2.00 support.
XRP long-term analysis: bullish
Since May 30, as reported by Coinidol.com, the price of the cryptocurrency has been below the moving average indicators. Buyers have not kept the price above the moving average lines. Buyers have pushed back the bullish momentum twice. XRP will reach a high of $2.65 if it recovers and breaks above the moving average lines. The uptrend will continue to the high of $3.00.
The price has settled between the moving average lines. The move will be categorised as either an uptrend or a downtrend if the moving average lines are broken.
XRP price analysis
Since the 16th of June, the price has been below the 50-day SMA barrier but above the 21-day SMA support. If XRP breaks above the 21-day SMA barrier, it will resume its uptrend. However, if XRP falls below the 50-day SMA support, it would lose value. The trend is now indicated by the horizontal moving average lines.
Technical indicators:Â Â
Key Resistance Levels – $2.80 and $3.00
Key Support Levels – $1.80 and $1.60
What is the next direction for XRP? Â
In the last 48 hours, the target of the price has been unclear. The 50-day SMA has pushed back the bullish momentum. Price has so far remained steady as the doji candlesticks appear. XRP will rise when the price bars of the 4-hour chart are above the moving average lines.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
