Ripple uptrend is under serious threat
Apr 04, 2020 at 11:55 // News

The Ripple uptrend is under serious threat by sellers at the $0.18500 resistance. The bulls have earlier broken the resistance line of the descending channel, paving the way for a change in trend.

Also, buyers have earlier taken the price to the high of $0.18454 which was interrupted. About 48 hours ago, the price spike of $0.18759 was also repelled. The bulls are unrelenting as the price continues to fluctuate between $0.17 and $0.18. 

The bears are not ready to give up their defence at the $0.18500 price level. Positively, if the bulls are successful above $0.18500, the market will immediately move to a high of $0.21. At the high of $0.21, it is likely to face another resistance. Ripple will reach a high of $0.24 if the momentum continues. In the meantime, the market is still fluctuating between $0.17 and $0.18500. It is not unlikely for a price to drop to the low of $0.16 if the bulls fail to sustain the uptrend above $0.17.

Ripple (XRP) Indicator Analysis

During its uptrend, Ripple moved up to level 49 of the daily RSI. This implies that XRP is in the downtrend zone and beneath the centerline 50. XRP has a tendency to fall. The EMAs are sloping upward.

XRP-CoinIdol_(5).png

Key Resistance Zones: $0.35, $0.40, $0.45

Key Support Zones: $0.25, $0.20, $0.15

What Is the Next Direction for Ripple (XRP)?

The uptrend is uncertain in view of the intense resistance at the $0.18500. Nevertheless, once the bulls break the $0.18500 resistance, the uptrend will resume. The market will continue to range if the key levels remain intact. However, if the bears succeed in breaking below $0.17, the selling pressure may resume.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.

(Excerpt) Read more Here | 2020-04-04 11:55:00
Image credit: source

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