Ripple price movement has remained stationary over the last three days. Presently, the market is relatively stable between the levels of $0.18 and $0.20. The price has remained above $0.19 for the past one week. This is largely credited to the reduced selling pressure on the coin. In that case, the bulls may have a slim advantage over the bears.
Interestingly, Ripple is closer to a breakout above $0.20 than a breakdown beneath $0.17. We are still expectant that the XRP will reach a high of $0.23 once the bulls break above the $0.20 price level. However, we cannot rule out a sideways move if the coin faces another price rejection.
The bulls were determined to break above the 12-day EMA, but the bullish candlesticks perched on it. This is an impressive move for Ripple to reach the bullish trend zone. It is very crucial for the price to break above the EMAs if the proposed target of $0.23 is to be achieved. XRP may fall as the RSI period 14 level 38 is below the centerline 50.
Key Resistance Zones: $0.35, $0.40, $0.45
Key Support Zones: $0.25, $0.20, $0.15
There has been no change in the direction of price as the market fluctuates below $0.20. For instance, the coin was trading at low of $0.19119 on December 31. Today, the price pulls back to the same low after testing the $0.19500 price level. In recent time, the coin is not making any appreciable moves. We have earlier indicated that the price has remained stable between $0.18 and $0.20. However, the selling pressure will continue if the bears break beneath $0.18.
Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.