XRP prices have regained upward momentum and have risen above moving average.
XRP Long-Term Analysis: Bull
The bullish momentum is expected to peak at $2.40. XRP used to trade narrowly between $2.00 support and $2.65 barrier. The bears held the edge, pushing the price to a low of $1.61.
However, as XRP resumed its uptrend, the Bulls bought the dip. The current uptrend is expected to hit a barrier at $2.30. If the Bulls break through the $2.30 resistance level, Altcoin will be at a high of $2.65. XRP prices are unlikely to fall below 50 days of SMA support if buyers defend existing support. The XRP price is $2.29 at the time of writing.
XRP indicator analysis
On June 30th, AltCoin was between 21 days of SMA support and 50 days of SMA barrier. The Altcoin value has risen after breaking beyond the 50-day SMA. If SMA support had been broken for 21 days, the XRP would have been low. The moving average line remains horizontal, indicating a horizontal trend.
Technical indicators:
Key Resistance Levels – $2.80 and $3.00
Key Support Levels – $1.80 and $1.60
What’s the next direction for XRP?
XRP prices have resumed uptrends after falling to a minimum of $1.61. On the four-hour chart, XRP trades above the moving average line, but below the initial barrier of $2.30. Once the initial barrier is broken, the rise continues. Altcoin is expected to reach a high of $2.65.
Disclaimer. This analysis and prediction is the author’s personal opinion. They do not recommend buying and selling cryptocurrencies and should not be considered as approval by coinidol.com. Readers should do research before investing in funds.
