The price of XRP crossed its moving average lines on 9 June and has remained very stable since May 12.
Since then, XRP has fluctuated between the $2.00 support and the $2.65 resistance.
XRP long-term analysis: bullish
Now, XRP is trading above the moving averages and resuming its uptrend.
On the upside, XRP will reach the $2.65 level if it finds support above the moving average lines. The overarching resistance of $2.65 has not been breached since May 12, as Coinidol.com wrote.
Today, XRP is in a slight retracement above the moving averages.
XRP price indicators analysis
On June 9, the price bars were higher than the moving average lines. XRP has the potential to rise above the moving average lines. These lines on the 4-hour chart are rising upwards as the altcoin rally continues.
Technical indicators:
Key Resistance Levels – $2.80 and $3.00
Key Support Levels – $1.80 and $1.60
What is the next direction for XRP?
The XRP price is still moving slowly as it continues to range. The altcoin is still stuck between support at $2.00 and resistance at $2.65. XRP is facing an initial resistance at the high of $2.35 as it pulls back to the moving average lines. The altcoin will remain in its current range until the trend can be determined.
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.
Source: https://coinidol.com/ripple-price-stays-afloat/