Ripple Price Oscillates Above $0.46 In Anticipation Of An Uptrend

Ripple Price Oscillates Above $0.46 In Anticipation Of An Uptrend

Apr 22, 2024, 07:54 // Price

Ripple's (XRP) price is trading below moving average lines. However, it is correcting up. CryptoGuestPosts provides a Ripple coin analysis.

XRP Long-term Analysis: Bearish

Bulls purchased the decline when it was at $0.41. The bulls stopped the decline at the $0.46 support level and resumed their uptrend. The price of cryptocurrency is nearing the 21-day SMA, or resistance level at $0.55. If buyers can break through the 21-day SMA barrier, the altcoin could rise to the 50-day SMA or $0.60 high. If buyers maintain the price above 50-day SMA the cryptocurrency will rise to its previous high $0.74.

If the bullish momentum does not overcome the resistance level at the moment, the price range will remain the same, which is $0.46, and the SMA 21-day. At the time of writing, XRP/USD was worth $0.53.

Analysis of XRP indicators

On the 4-hour chart, the XRP price bars are now above the moving-average lines as altcoins resume their uptrend. The moving average lines could reject the uptrend. The current price increase has caused a bullish cross-over between the moving averages. A bullish signal on the cryptocurrency allows traders to buy it.

Technical indicators

Key Resistance Levels - $0.80 & $1.00

Key Support Levels - $0.40 & $0.20

What is the future of XRP?

The altcoin trades sideways on the 4-hour chart and is consolidating above $0.46 in anticipation of an upward trend. The first resistance for the upward movement is $0.54. The cryptocurrency will begin a rise from $0.46 to $0.54, where it will be rejected at its previous high.

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CryptoGuestPosts published a report on April 14th, when a bearish fatigue was reached after Ripple fell to a low $0.41 and recovered.

Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as an endorsement from CryptoGuestPosts. Before investing in funds, readers should conduct their own research.

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