XRP Price Analysis – April 15 Bearish
XRP Chart by TradingView
XRPUSD Medium-term Trend: Bearish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.33, $0.31, $0.29
The crypto's price is also below the EMAs which indicates that the price is likely to fall. However, if the crypto's price ranges for a day or two it may have a price breakout or a price breakdown. On the upside, if the bulls break the $0.34 price level the crypto's price will resume its bullish trend to retest the $0.37 price level.
On the downside, if the bulls fail to break the $0.34 price level, the crypto's price will resume its range bound movement between the levels of $0.29 and $0.34. Meanwhile, the stochastic is in the oversold region but above the 20% range. This indicates that the XRP price is in a bullish momentum and a buy signal.
XRPUSD Short-term Trend: Ranging
XRP Chart by TradingView
On the 4-hour chart, the XRP price is in a range bound movement. On April 11, the bears broke below the 12-day EMA and the 26-day EMA to reach the low at $0.32 .The crypto's price is commencing a range bound movement below the EMAs and at the $0.32 price level.
Nevertheless, if the bulls break above the EMAs, the crypto's price will resume its bullish trend. On the other hand, if the bulls fail to break above the EMAs, the price will continue its range bound movement. Meanwhile, the stochastic indicator is in the oversold region but above the 40% range which indicates that the XRP price is in a bullish momentum and a buy signal.
Posted from Cryptotreat Cryptotreat : https://cryptotreat.com/xrp-price-analysis-april-15-bearish/