XRP Chart by TradingView
XRPUSD Medium-term Trend: Bullish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
The XRPUSD pair was in a bearish trend zone in the previous week. In retrospect, the XRP price was in a range bound movement in most part of the previous month. The crypto’s price was testing the $0.32 resistance level and also testing the $0.31 support level but was unable to break the levels.
On March 21, the bears had the upper hand and broke below the 12-day EMA and the 26-day EMA to reach the bearish trend zone. The price fell to the low at $0.30592. The pair is likely to rise as the bulls are in control. The XRP price is trading at $0.31687 as at the time of writing. The bulls are attempting to break above the EMAs.
On the upside, if the bulls break above the EMAs, the crypto’s price is likely to rise. A price breakout will enable the bulls to break the $0.32 and $0.33 resistance levels. If the price reaches the $0.34 price level, the crypto’s bullish momentum will increase.
On the other hand, if the bulls fail to break above the EMAs, the XRP price will continue to range at the $0.31 price level. Meanwhile, the stochastic indicator is at the oversold region but above the 40 % range. This indicates that the XRP price is in a bullish momentum and a buy signal.
XRPUSD Short-term Trend: Bullish
XRP Chart by TradingView
On the 4-hour chart, the XRP price is in a bullish trend zone. The 12-day EMA and the 26-day EMA are currently trending and indicating that the crypto’s price was in a range bound movement. Previously, the crypto’s price was ranging at the $0.31 price level. Today, the crypto’s price is making a series of higher highs and higher lows.
The crypto’s price may face resistance at the $0.32 and $0.33 price levels except for a price breakout stating otherwise. The bullish trend is ongoing if the trend line is unbroken. Meanwhile, the stochastic indicator is at the oversold region but above the 20% range which indicates that the XRP price is in a bullish momentum and a buy signal.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.