As the bears broke the 21-day SMA, the price of Ripple has resumed its selling pressure.

XRP Long-term Analysis: Bearish

Since its peak of $3.66, the cryptocurrency has been in decline. After a failed upward correction, the altcoin has fallen after its high of $3.33. After falling below the SMA 21-day support, XRP's price resumed its downward trend. The current upswing is over as the 21-day SMA was breached.

XRP will fall back to the 50-day SMA if bears breach the 21-day SMA. The price indicator suggests a further drop to $2.61, or the Fibonacci Extension Level of 1.618. XRP, in the meantime is stuck between the moving-averages. The value of the cryptocurrency has now increased to $2.93.

XRP Price Indicators Analysis

XRP continues to fall as it remains below the 21 day SMA but above the SMA 50 days. The moving average lines continue to trend upwards despite the decline. Altcoins will have to move between moving average lines. On the 4-hour chart XRP will fall because the price bars are below the moving average lines.

Technical Indicators:

Key Resistive Levels - $2.80 & $3.00

Key Levels of Support - $1.80 & $1.60

What is the future of XRP?

The XRP price is now above $2.90 as it continues to move sideways between the $2.90 resistance and the moving-average lines or $3.30 support. Price bars are testing the current level as the bears attempt to regain negative momentum.

Doji candlesticks appear as altcoin consolidates above the $2.90 level.

Disclaimer. Disclaimer. This analysis and forecast is the personal opinion of the author. These are not recommendations to buy or trade cryptocurrency, and should not be seen as endorsements by CryptoGuestPosts. Before investing in funds, readers should conduct their own research.