XRP's Price Rising Trend Stops At $0.64

The price of Ripple (XRP) has continued its uptrend, breaking above a key resistance at $0.57. XRP price analysis by Coinidol.com.

XRP long-term analysis: bullish

On July 16, as reported by Coinidol.com,the bulls broke through the resistance at $0.57 and reached a high of $0.64. The cryptocurrency pulled back and retested the support level of $0.57. The drop and subsequent support signal that cryptocurrencies will recover to its previous high. Today, XRP is soaring and approaching the high of $0.60.

If buyers keep the price above the barrier at $0.64, the altcoin will return to its previous high of $0.78.

However, the altcoin will be forced to trade in a range above the $0.55 support and below the $0.64 resistance if it fails to surpass the recent high. The value of the altcoin currently stands at $0.59.

XRP indicator analysis

After a short retracement, the price bars are currently above the moving average lines. The uptrend has come to a halt below the $0.64 mark. On the 4-hour chart, the price bars are above the 21-day SMA support but below the $0.64 resistance level.

Technical indicators:  

Major Resistance Levels – $0.80 and $1.00

Major Support Levels – $0.40 and $0.20

What is the next direction for XRP?

On the daily chart, XRP continues to move in the positive trend zone, indicating further upside. On the 4-hour chart, the altcoin is moving sideways after the uptrend was halted at $0.64. The upward movement will start as soon as buyers break above the resistance at $0.64. Currently, doji candlesticks are slowing down the cryptocurrency's upward movement.

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.