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.
XRP price is advancing towards $0.36 level about to break up and face the next hurdles at $0.38. On the downside, a break below $0.35 would aim for $0.33 price level.
- The Bulls are in control of the XRP market;
- the price retracement is carried out by the bears;
- XRP price may incline further towards $0.38 level.
XRP/USD Price Medium-term Trend: Bullish
Supply levels: $0.36, $0.38, $0.40
Demand levels: $0.35, $0.33, $0.32XRP/USD continues uptrend movement on the medium-term outlook. The XRP price rallied towards $0.38 supply level after it broke up the price levels of $0.32, $0.33, $0.35, $0.36 but unable to break up $0.38 price level. The XRP price dropped sharply to support level of $0.32 by the Bears’ pressure.
On April 4, a bullish reversal candle pattern formed called “inside bar” at the demand level of $0.32; this triggered the bullish momentum that pushed up the coin to the previous high of $0.36 supply level.
The coin is trading far above the two EMAs. The 21 periods EMA crossed over the 50 periods EMA in which the two EMAs are fanned apart from each other which indicate a strong bullish momentum in the XRP market.
Meanwhile, the Relative Strength Index period 14 is above 60 levels pointing up to indicate buy signal and a further increase in XRP price. The coin is advancing towards $0.36 price level about to break up and face the next hurdles at $0.38. On the downside, a break below $0.35 would aim for $0.33 price level.
XRP/USD Price Short-term Trend: Bullish
On the short-term, XRP/USD is on the bullish trend. On April 4 the coin bottomed at $0.32. There were several hours of indecision at that moment and this is noted on the chart with the formation of doji candles.
Shortly after the consolidation, the bulls triggered the uptrend movement by broke up levels with the strong bullish candles. The coin reached the high of $0.38 before it was resisted by the Bears.
The 21 periods EMA has crossed over 50 periods EMA with the coin trading above the two EMAs which indicate a strong bullish trend in the XRP market. Further price inclination is highly anticipated.