XRP Fails At The $0.60 Barrier And Remains Stable

The price of the Ripple or XRP coin (XRP) is in a sideways trend above the moving average lines. The cryptocurrency value used to range between $0.43 and $0.64.

XRP long-term analysis: ranging

The range has now narrowed above the moving average lines, which are the $0.56 support and the $0.60 resistance. The emergence of doji candlesticks has caused the price movement to remain stationary. Should the bulls break through the resistance at $0.60, the market will rise above the upper resistance at $0.64. Or should the bears fall below the moving average lines, XRP would drop to its previous low of $0.50.

Today, the cryptocurrency has remained steady at $0.58.

XRP indicator analysis

XRP has been trading above its moving average lines since September 14, as reported by Coinidol.com. For more than a week, the altcoin has been trapped within a limited range. The emergence of doji candlesticks has led to price bars remaining stationary. The altcoin will change if the price falls below the horizontal moving average lines or breaks above the resistance at $0.60.

Technical indicators:  

Key Resistance Levels – $0.80 and $1.00

Key Support Levels – $0.40 and $0.20

What is the next direction for XRP?

On the 4-hour chart, XRP is trading above the $0.56 support and below the $0.60 resistance. If buyers fail to break through the resistance at $0.60, the altcoin will fall. Currently, the altcoin is falling towards the moving average lines. The altcoin will fall if the price falls below the moving average lines.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are 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.