XRP Tests the $0.54 Level

XRP Tests the $0.54 Level

May 21, 2024, at 11:04 am // Price

The price of Ripple remains within a tight range between the $0.46 resistance and the moving-average lines.

XRP Long-term Analysis: Bearish

The sideways trend continues, as bulls cannot break above the SMA of 50 days. On May 20, XRP rose and broke above moving average lines. However, the price stalled around the 50-day SMA. If the bulls had broken through the barrier of the 50-day SMA, the cryptocurrency could have reached a maximum of $0.57.

Altcoins are currently on a downward slide. If the downward trend breaks below the SMA of 21 days, the current support level at $0.46 will be tested again. If the crucial support level of $0.46 is breached, XRP could drop as low as $0.41. XRP is currently between the moving-average lines. It is worth $0.53.

Analysis of XRP indicators

The price bars have fallen within the moving-average lines due to a false breakout. Altcoin has pulled back after it was rejected at the SMA 50-day. The 50-day SMA has stopped the upward trend. The altcoin's uptrend will resume if buyers can break through the 50-day SMA resistance at $0.54.

Technical indicators

Key Resistance Levels - $0.80 to $1.00

Key Support Levels - $0.40 & $0.20

What is the future of XRP?

Today, buyers struggle to maintain the bullish momentum over the 50-day SMA. They also face resistance at $0.54. If XRP is not accepted at the 50-day SMA, then this current choppy trend could continue. If buyers succeed, however, an upward trend will start.

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Disclaimer. This analysis and forecast is the author's personal opinion and not a recommendation for buying or selling cryptocurrency. It should not be seen as an endorsement from CryptoGuestPosts. Before investing in funds, readers should conduct their own research.


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