XRP Price Analysis – February 28

XRPUSD Medium-term Trend: Bearish

 
• Resistance Levels: $0.56, $0.58, $ 0.60
• Support Levels: $0.30, $0.28, $0.26

 
XRP’s price was in a bearish trend yesterday. On February 25, the crypto’s price faced a downward correction to a $0.32 low, after facing resistance at $0.34. On February 27, the bulls took over for several hours, before the bears regained control.

 
The cryptos’ drop into a bearish trend indicates the price is likely to continue going down. This could mean XRP is set to revisit lows at $0.30 or $0.29. Its Stochastic indicator is out of the overbought region, but is under range 40, indicating XRP’s price is in a bearish trend.

 

 
XRPUSD Short-term Trend: Ranging

 
On the 1-hour chart, XRP is in a sideways trend. Its price fell to a low of $0.31 and entered a range-bound movement. The bullish movement in the last 24 hours has been repelled by the EMAs as the crypto’s price continues to range at $0.31. At this point, XRP’s price can have either a price breakdown or a price breakout.

 
Meanwhile, the Stochastic indicator is in the overbought region but above 80, which indicates that XRP is in a strong bullish trend and is a buy signal.

 

 

 

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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