XRP Recovers But Hits The $2.50 Barrier

Cryptocurrency analysts of Coinidol.com report, Ripple (XRP) price has returned above the 21-day SMA and has reached a high of $2.50.

XRP long term analysis: fluctuation range

The cryptocurrency has returned to its trading range, above the 21-day SMA support but below the $2.80 resistance level. The uptrend has been hindered by resistance near $2.50. On the downside, XRP has found support above the 21-day SMA after a recent rejection. The altcoin is currently hovering above the 21-day SMA. The altcoin is likely to regain its high of $2.80 if the first barrier is breached. On the other hand, if the bears break the 21-day SMA support, XRP will fall above the 50-day SMA or the low at $1.96. Meanwhile, XRP is valued at $2.27.

XRP indicator analysis

The price bars are above the moving average lines, but both bulls and bears are struggling to stay above the 21-day SMA. If the bears break below the 21-day SMA support, XRP will fall and be trapped between the moving average lines. The current price range will return if the bulls defend the 21-day SMA support.

Technical indicators:

Key resistance levels – $1.40 and $1.60

Key support levels – $1.00 and $0.80

What is the next direction for XRP?

On the 4-hour chart, XRP has dropped below the moving average lines. The altcoin is currently trading in a range between $2.20 and $2.50. The price of the cryptocurrency is moving above the $2.20 support. However, the upward movement is being hindered by the moving average lines. XRP will rise as soon as the current barriers are broken.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing.