🔥XRP’s Price Rebound Slows Due to Opposition Near $0.53
💗XRP (XRP) Long-Term Analysis: Bearish
The price of XRP (XRP) is below the moving average lines due to opposition near $0.53. The cryptocurrency price is moving toward the 21-day SMA. On the upside, if the price breaks above the 21-day SMA, the bullish momentum will continue to the 50-day SMA or above it. This will result in the continuation of the positive trend. The market will reach its previous highs of $0.70 and $0.75.
🚀The selling pressure will resurface if the 21-day SM repels the cryptocurrency price. First, XRP/USD will drop to its previous lows of $0.50 or $0.48. Meanwhile, XRP is worth $0.53 at the time of writing
Technical Indicators:
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10
🦅XRP(XRP) Indicator Analysis
❤️XRP price bars have been below the moving average lines since the January 3, 2024 price drop. However, in the 4-hour chart, the price bars are higher than the moving average lines. This shows that the altcoin’s value is increasing. However, the moving average lines are trending downward, suggesting the current decline.
👉What Is the Next Direction for XRP (XRP)?
XRP/USD has been trading above the $0.50 support due to opposition near $0.53. The currency has resumed bullish momentum on the 4-hour chart, breaking above the moving average lines. The crypto signals are still bearish because the cryptocurrency is trading in a bearish trend zone. The upward trend has been slowed twice by resistance at $0.53. The coin is predicted to move between $0.50 and $0.53 price levels.
