Coinidol.com: XRP Surges but Faces the $2.00 Hurdle

The XRP price has regained its bullish momentum, breaking above the 21-day SMA.

XRP long-term analysis: bullish

The cryptocurrency is approaching the next hurdle at the 50-day SMA, or resistance at $2.00. Currently, the price is above the 21-day SMA support but below the 50-day SMA barrier. If the price breaks above the 50-day SMA, the altcoin could rise to a high of $2.58.

However, if the upward trend stalls below the 50-day SMA, XRP will likely trade within a range for several days. If the altcoin falls below the 21-day SMA support, it will return to its previous range above $1.80. XRP is currently valued at $1.99.

Technical Indicators:  

• Resistance Levels: $2.80 and $3.00

• Support levels: $1.80 and $1.60

XRP price indicators analysis

The cryptocurrency price is positioned between two moving average lines. The price of XRP is rising and approaching the 50-day SMA barrier. Both the 21-day and 50-day SMAs are trending downward. The cryptocurrency price is above the horizontal moving average lines. The XRP price will continue to rise as long as the price bars remain above the moving average lines.

What is the next direction for XRP?

The XRP price has resumed its upward trend above the moving average lines on the 4-hour chart. The upward movement has halted at $2.00. If XRP fails to rise above its recent high, it will trade above the moving average lines but below the $2.00 level.

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.