XRP Remains Above $2.40, But Risks A Decline

The price of XRP has regained its bullish momentum after breaking the moving average lines. The uptrend came to an end when the 50-day SMA was breached.

XRP long-term analysis: bullish

The bears are defending the recent high by resisting the rising trend. XRP will rise and reach the next resistance at $3.00 if the 50-day SMA support holds. XRP is moving above the 50-day SMA while trying to slip below the 50-day SMA support.

On the other hand, the market will reach the 21-day SMA support if the bears break the 50-day SMA. After that, it will continue to decline until it reaches the $2.00 support. The value of the altcoin currently stands at $2.41.

XRP indicator analysis

It is difficult for the bulls to sustain their upside momentum above the 50-day SMA. The price of XRP will rise if it remains above the moving average lines. However, the move has remained below the $2.60 ceiling. XRP has fluctuated below its recent high in the last 48 hours.

Technical indicators:  

Resistance Levels – $2.80 and $3.00

Support Levels – $1.80 and $1.60

What is the next direction for XRP?

The rising trend of XRP price has stabilised at its high of $2.60. Currently, XRP's price range is capped between $2.00 and $2.60. XRP is gradually falling back to the lower price level at $2.00. The market will fall to $1.78 if the bears break the $2.00 support.

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 in funds.