XRP Price Analysis – January 3

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XRPUSD Medium-term Trend: Ranging

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

 
On December 24, 2018, the 12-day EMA crossed over the 26-day EMA to trend horizontally. Similarly, within the same period, the XRPprice had been range between the levels of $0.34 and $0.38. The bears had not been able to go beyond the closing price of $0.34. Also, the bulls had not been able to break the resistance at $0.38.

 
However, if more buyers come in at the $0.38 price level, the crypto will rise above the $0.40 price level. On the downside, if sellers come in at $0.34 price level, the bears will revisit the lows of $0.28 and $0.24. Meanwhile, the stochastic indicator is out of out of the overbought region but below 60% range which indicates that the crypto is in a bearish momentum and a sell signal.

 
XRP On the 4-hour chart, the XRP price is in a bullish trend. On January 1, the XRP price made a bullish movement to the high of $0.39 on January 2nd. The bullish trend was terminated at the resistance of $0.38. In other words, the bearish candlestick broke the trend line and the following candlestick closed on the opposite of it.

 
This confirms the range bound movement between the levels of $0.34 and the $0.38. Meanwhile, the stochastic is below 80% indicating that the XRP price is in a bearish momentum.

 

 

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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