XRP Stops At $2.15 Due To Market Uncertainty

Cryptocurrency analysts of Coinidol.com report, Ripple (XRP) has remained stable, trading above the $2.00 support and below the $2.80 resistance level.

XRP long term analysis: ranging

Similarly, XRP has remained stuck at the moving average over the past month. A rise in XRP above the $2.00 support has seen buyers enter the scene. If the price rises and breaks above the 21-day SMA resistance, XRP will resume its uptrend. It will reach highs of $2.80 and $3.00. On the other hand, if XRP stalls at the 21-day SMA, it will continue its rise below the resistance. The cryptocurrency is now worth $2.40.

XRP indicator analysis

The XRP price is trapped between two horizontal moving average lines. Since December 19, neither the bulls nor the bears have broken through the 50-day SMA support or the 21-day SMA resistance. Doji candlesticks have dominated price action, reflecting traders' hesitation about market direction.

Technical indicators:  

Key resistance levels – $1.40 and $1.60

Key support levels – $1.00 and $0.80

What is the next direction for XRP?

On the 4-hour chart, XRP is trading in a narrow range between the $2.00 support and the $2.20 resistance. The moving average lines and the $2.80 resistance are limiting the upside. If the altcoin breaks through the resistance levels, it will resume a positive trend.

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their research before investing.