Ripple Sustains Hold above $0.22, Threatened by Further Selling

Nov 30, 2019 at 13:52 // News
Coin Idol
Ripple price analytics

Ripple (XRP) trades above the $0.22 support level. Ripple price may rally above $0.24 if more buyers come in at $0.22 price level.

Ripple (XRP) Price Long-Term Forecast: Bearish

XRP has continued to struggle below the $0.23 price level, but the market settles above the $0.22 price level. The coin has been relatively stable above the $0.22 price level but the price continues to fluctuate at $0.23. The price settling above $0.22 indicates that buyers are aggressive at the $0.22 price level.

Nevertheless, if the buyers sustain the buying momentum, the price will rally above the $0.24 resistance level. Meanwhile, the coin is retracing after testing the price at $0.23500. If price retraces and breaks below $0.22, it may fall to a low of $0.20. All the same, the downtrend will resume, if the $0.20 support is also broken.

Ripple (XRP) Indicator Analysis

The 12-day EMA is acting as a resistance to the XRP as the market declines. XRP is trading at the oversold region level 35 of daily RSI. The coin has the tendency to fall as the price is below the EMAs.

XRP chart.jpg

Key Supply Zones: $0.35, $0.40, $0.45

Key Demand zones: $0.25, $0.20, $0.15

What Is the Next Move for Ripple (XRP)?

The pair is relatively stable at $0.22 because of the presence of buyers at that level. Nevertheless, more buyers are still needed at the current level to propel XRP to rally above $0.24. Conversely, if the bears succeed in breaking the $0.22 price level, XRP will fall to a low at $0.20. However, panic selling will further depreciate the coin to $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.

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