XRP Price Is Stable Above $0.57 As It Is Stuck In A Range

The price of Ripple (XRP) has continued its uptrend as it trades above moving average lines but has stalled at the $0.64 resistance level.

The cryptocurrency got stuck as buyers could not sustain the price above the $0.64 resistance level. XRP has retreated but the decline has paused near the breakout level of $0.57. Bulls bought on dips but the upside correction has stuck near the resistance zone.

XRP long-term analysis: bullish

Ripple is trading above the $0.58 support but below the $0.64 resistance. XRP will rise to a high of $0.78 if the $0.64 resistance is overcome. If the 21-day SMA support is broken, cryptocurrency prices will fall. XRP is expected to make a low above the 50-day SMA, which is at $0.50. At the time of writing, the cryptocurrency is now worth $0.59.

XRP indicator analysis

The moving average lines are sloping upwards and have crossed to the upside. The altcoin is rising as the price bars are above the moving average lines. On the 4-hour chart, the moving average lines are sloping horizontally, indicating a sideways trend.

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, the price has held steady above the $0.58 support. Doji candlesticks dominate the price activity, with the price of the altcoin remaining stable above the current support. The altcoin is currently trading between $0.58 and $0.64.

Coinidol.com reported on July 21 that the upward movement for Ripple coin can start as soon as buyers break above the resistance at $0.64. 

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.