XRP Drops but Holds Below $1.70

The XRP price has fallen below $1.80, its previous bottom.

XRP long-term analysis: bearish

The cryptocurrency breached this level and reached a low of $1.710. XRP remains above this support but below the moving averages. The altcoin’s upward trend will resume if buyers push the price above the key resistance at $1.80. Bullish momentum will continue above the moving average lines, and XRP could rise to its previous high of $2.40.

However, if bullish momentum fails to break above the moving averages, the altcoin will likely trade within a range above the current support. XRP is currently at $1.589.

Technical Indicators:  

• Resistance Levels: $2.80 and $3.00

• Support levels: $1.80 and $1.60

XRP price indicators analysis

The downward-sloping moving average lines have now shifted horizontally. The price bars are below both the 21-day and 50-day moving averages. On the 4-hour chart, the moving averages have turned sharply downward. Doji candlesticks are present, indicating  indecision.

What is the next direction for XRP?

XRP is declining after breaking below the $1.80 support. Bearish momentum has retested the $1.70 support twice before pulling back. The outlook remains negative, but selling pressure has stalled above $1.70 support level.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.