Coinidol.com: XRP Maintains Its Range above $1.80

The XRP price is steadily declining below the moving average lines.

XRP long-term analysis: bearish

The cryptocurrency has paused its decline above the $1.81 level since November 21. Over the past month, XRP has traded within a range above the $1.80 support but below the moving average lines. Buyers have made several unsuccessful attempts to push the price above the 21-day SMA, resulting in further decline.

On December 19, the bears broke through the $1.80 support, but the bulls bought the dips. If the bears succeed in breaking below the current support level of $1.81, XRP will face renewed selling pressure. The asset would then fall and return to its October 10 price level of $1.58.

Meanwhile, the altcoin continues to trade within its range above the $1.80 support level.

Technical Indicators:  

• Resistance Levels: $2.80 and $3.00

• Support levels: $1.80 and $1.60

XRP price indicators analysis

The moving average lines continue to trend downward as the price bars move sideways below them. On October 10, a long candlestick tail indicated strong buying above the $1.50 level. On the 4-hour chart, the price bars remain below the downward-sloping moving averages. The price action is characterised by Doji candlesticks, keeping the price range-bound.

What is the next direction for XRP?

XRP has been forced to trade within a range above the $1.80 support. On the 4-hour chart, the cryptocurrency is trading in a narrow range above the $1.80 support and below the $1.95 resistance level.

The cryptocurrency price has stayed stable, consolidating above the $1.84 low. The altcoin will continue its range bound above the $1.80 support level if it keeps its current posture.

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.