XRP Rallying at Short Term Resistance Levels

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XRP Price Medium-term Trend: Bearish


Resistance Levels: $0.56, $0.58, $ 0.60
Support Levels: $0.36, $0.34, $0.32

Yesterday, the price of XRP was in a bullish trend. On November 28, the digital asset was resisted at the price of $0.40. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. However, from the Stochastic indicator, the blue band and the red band of the Stochastic are above the range of 20.

This indicates a buy signal. Meanwhile, the XRP price is below the EMAs and as such price is not in the bullish trend zone.


XRPUSD Short-term Trend: Bullish

On the short term trend, the XRP price is in the bullish trend zone. The crypto’s price is above the 12-day EMA and the 26-day EMA indicating that price may rise. The 12-day EMA and the 26-day EMA are acting as support level to enable XRP price to rise. Presently, XRP price faces resistance at the $0.40 price level.

On the upside, a breakout at the $0.40 price level will make price rally at the $0.45 and $0.50 price levels. However, if the crypto’s price breaks the EMAs to the downside; the digital asset may find support at $0.24. Meanwhile, the Relative Strength Index period 14 is level 50 which indicates that price is in a sideways trend.




The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.


SOURCE: https://www.cryptoglobe.com/markets/price-analysis

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