Ripple is still trapped under the resistance of $ 0.20500 after the last rebound. The bulls are relentless because the price continues to retest the resistance of $ 0.20500. During the first retest, the bulls were pushed back while the price fell to $ 0.19.
In the next new test, the price consolidates below the current resistance. The upward trend should continue as the price is higher than the EMA. The XRP will exceed the minor resistance and break the resistance by $ 0.21 if the bulls keep the price above $ 0.19. Momentum is expected to peak at $ 0.25.
Analysis of ripple indicators
The ripple is greater than 80% of the daily stochastic range. This means that XRP is in the overbought region of the market. The current upward trend should be stopped, as sellers should emerge to drive prices down. The downward movement could fall to $ 0.19 and resume an upward movement. The moving averages are about to have a bullish cross indicating an uptrend.
Key resistance zones: $ 0.35, $ 0.40, $ 0.45
Key support areas: $ 0.25, $ 0.20, $ 0.15
What is the next direction for ripple (XRP)?
Upward ripple is hampered due to the emergence of sellers in the overbought region. He is unsure of the extent of the decline. However, the bulls should defend the support of $ 0.19 for the continuation of the uptrend. The ripple will be out of the downtrend area if the bulls exceed resistance by $ 0.21.
Warning. This analysis and forecast are the personal opinions of the author which do not constitute a recommendation to buy or sell cryptocurrency and should not be considered as an endorsement by CoinIdol. Readers should do their own research before investing funds.