XRP Chart by TradingView
XRPUSD Medium-term Trend: Ranging
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
From the 4-hour chart, the XRP price is ranging above the $0.30 price level. On March 27, the bulls tested the $0.31 resistance level and the price was in a downward correction. Yesterday, the bears broke the 12-day EMA and the 26-day to reach the bearish trend zone.
The bulls immediately pulled back the price above the EMAs as the crypto’s price is now in range bound movement. The XRP price is above the EMAs which indicate that price is likely to rise. The crypto’s price is also at the support of the $0.30 price level which indicates that the price can equally rise.
On the upside, if the crypto’s price rises, the price is likely to move up to the $0.33 price level. The $0.33 price level has not been tested nor broken since February 25. On the downside, if the bears break below the EMAs, the crypto’s price will fall and resume a downward trend.
Meanwhile, the stochastic indicator is at the overbought region but below the 80 % range. This indicates that the XRP price is in a bearish momentum and a sell signal.
XRPUSD Short-term Trend: Ranging
XRP Chart by TradingView
On the 1-hour chart, the XRP price is in a range bound movement. Yesterday, the crypto’s price was resisted at the $0.31 price level. The bears broke below the EMAs as the price fell to the low at $0.30351. The bulls pulled back the price above the EMAs to a high at $0.30610.
The crypto’s price is now ranging below and above $0.30610 price level. The EMAs is now trending horizontally indicating price is in a range bound movement. In a range bound movement, the price can go either direction. Meanwhile, the stochastic indicator is at the oversold region but below the 40 % range which indicates that the XRP price is in a bearish momentum and a sell 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.