The price of XRP has gradually risen above the $2.00 support level since June 23.
XRP long-term analysis: bearish
The price range of the cryptocurrency has been between $2.00 and $2.65.
Since May 30, as Coinidol.com wrote, the price of XRP has been forced to move within the bearish trend zone. The altcoin has been trading below the moving average lines but above the $2.00 mark. Buyers have failed four times to keep the price above the moving average lines. The price of cryptocurrencies is currently trading below the moving average lines.
Altcoin will rise to a high of $2.65 if it breaks above the moving average lines. The altcoin would fall to a low of $1.61 if it breaks below the $2.00 support, but XRP has remained stable.
XRP price indicators analysis
The price of XRP has been in the downtrend zone since May 30. Although the selling pressure has stalled above the $2.00 support, the price bars have remained below the moving average. The price bars on the 4-hour chart are above the moving average.
However, the price movement has come to a standstill at the recent high.
Technical indicators:
Resistance Levels – $2.80 and $3.00
Support Levels – $1.80 and $1.60
What is the next direction for XRP?
The price of XRP is trading in the downtrend zone and is below the moving average lines. The price of XRP has been moving below the moving average lines of the daily chart since its decline on May 30.
The price action has been contained above the $2.00 support and below the moving average lines. XRP is trading below the $2.20 level.
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-rises-above/