XRP Price Analysis: XRP/USD is Getting Ready for the Breakout

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by Azeez Mustapha · 2 min read
XRP Price Analysis: XRP/USD is Getting Ready for the Breakout
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XRP price will rally to the north and make the supply level of $0.33 if the bullish candle breaks the $0.32 level close above it. Should the Bears prevail over the Bulls; the XRP price will decline towards $0.30 level and face the $0.28 demand level.

Key Highlights:

  • Consolidation is ongoing in the XRP market;
  • the bears may take over the XRP market soon;
  • the break out is imminent.

XRP/USD Price Medium-term Trend: Ranging

Supply levels: $0.32, $0.33, $0.35
Demand levels: $0.31, $0.30, $0.28XRP continue its ranging movement on medium-term outlook. The bears could not prevail over the Bulls but rather their momentum was still at equilibrium. On March 16 the Bulls gained pressure and broke up the supply level of $0.32 but the Bears quickly opposed the increase in XRP price; this is noticed as the strong bullish candle changed to the upper long tail candle.

The Bears pushed the XRP price back below $0.32 price level where it continues its sideways movement.

he 21 periods EMA and 50 periods EMA are horizontally placed without direction and the two EMAs are tightly fixed to each other, still remains flat. The XRP price is trading directly on the two EMAs which is a sign of consolidation in the XRP market. That means the battle between the buyers and the sellers in the XRP market continues.

The XRP price will rally to the north and make the supply level of $0.33 as its target in case the bullish candle that breaks the $0.32 level close above it. Should the Bears prevail over the Bulls; the XRP price will decline towards $0.30 break the level and face the $0.28 demand level. The Stochastic Oscillator period 14 is at 30 levels and the signal lines points up indicates buy.

XRP/USD Price Short-term Trend: Ranging

The sideways movement continues in the XRP market on the short-term outlook. Neither the Bulls nor the Bears have enough momentum to make the coin rally to the north or to the south respectively. The XRP price is hovering around and over the two EMAs.

The 21 periods EMA interlocked to 50 periods EMA as an indication of consolidation in the XRP market. The Stochastic Oscillator period 14 is at 60 levels with its signal lines points to the north indicates that the bulls may take over soon.

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Azeez Mustapha
Technical Writer Azeez Mustapha

Azeez Mustapha is a specialist in Computer Studies (including DTP), Forex and Crypto trading professional. Being expert technical and currency analyst, as well as experienced fund manager and author of several books, Azeez places strong focus on crypto market studies conducting comprehensive price analyses and sharing forecasts of presumptive market trends.

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