The Ripple uptrend is under serious threat by sellers at the $0.18500 resistance. The bulls have earlier broken the resistance line of the descending channel, paving the way for a change in trend.
Also, buyers have earlier taken the price to the high of $0.18454 which was interrupted. About 48 hours ago, the price spike of $0.18759 was also repelled. The bulls are unrelenting as the price continues to fluctuate between $0.17 and $0.18.
The bears are not ready to give up their defence at the $0.18500 price level. Positively, if the bulls are successful above $0.18500, the market will immediately move to a high of $0.21. At the high of $0.21, it is likely to face another resistance. Ripple will reach a high of $0.24 if the momentum continues. In the meantime, the market is still fluctuating between $0.17 and $0.18500. It is not unlikely for a price to drop to the low of $0.16 if the bulls fail to sustain the uptrend above $0.17.
During its uptrend, Ripple moved up to level 49 of the daily RSI. This implies that XRP is in the downtrend zone and beneath the centerline 50. XRP has a tendency to fall. The EMAs are sloping upward.
Key Resistance Zones: $0.35, $0.40, $0.45
Key Support Zones: $0.25, $0.20, $0.15
The uptrend is uncertain in view of the intense resistance at the $0.18500. Nevertheless, once the bulls break the $0.18500 resistance, the uptrend will resume. The market will continue to range if the key levels remain intact. However, if the bears succeed in breaking below $0.17, the selling pressure may resume.
Disclaimer. This analysis and forecast are the personal opinions of the author that 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.