- A bullish break at the $0.45 resistance level will propel the price to reach the $0.60 price level.
- On the other hand, the trend line has been broken and the selling pressure is likely to resume. This could lead the price to fall at $0.40 price level.
XRP/USD Medium-term Trend: Bullish
- Resistance Levels: $ 0.61, $0.63, $ 0.65
- Support Levels: $0.42, $0.40, $0.38
Yesterday, May 15, the XRP price was in a bullish trend. The XRP price was hovering around the $0.44 price level the previous day. Yesterday, it was assumed that the price was likely to reach the $0.50 price level if the trend line was unbroken. The trend line was unbroken but the crypto’s price resumed its bullish trend after a slight retracement.
Today the bullish trend line has been broken. Technically, the bullish trend has been terminated because of the two bearish candlesticks. However, the coin is facing resistance at the $0.45 price level. A bullish break at the $0.45 resistance level will propel the price to reach the $0.60 price level. On the other hand, the trend line has been broken and the selling pressure is likely to resume. This could lead the price to fall at $0.40. Nevertheless, the MACD line and the signal line are above the 0.03 line which indicates a buy signal.
XRP/USD Short-term Trend: Bullish
On the 1-hour chart, the XRP price was in a bullish trend zone. Today, the crypto’s price tested the $0.48 price level and was resisted. The market is retracing from the recent high. If the price retraced to the support of the 12-day EMA and the 26-day EMA, the XRP price is likely to resume the bullish trend. On the other hand, if the bears broke below the EMAs, the downtrend will ensue. This will result in the crypto’s price reaching the lows of $0.38 and $0.40 price level.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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