Ripple (XRP) Is In A Downtrend, Fluctuates Between $1.20 and $1.40
April 20, 2021
Ripple (XRP) Long-Term Analysis: Bearish
On the daily chart, XRP fell from the high of $1.96 to the low of $1.20. The last bullish candlestick has a long tail that is pointing downward. The long tail indicates there is strong buying pressure at a lower price level. Meanwhile, on April 14 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that XRP will rise to level 1.618 or $2.87 high.
Ripple (XRP) Indicator Analysis
Ripple is at level 58 of the Relative Strength Index period 14. It indicates that XRP is in an uptrend zone and capable of rising on the upside. The 21-day SMA and the 50-day SMA are sloping up indicating the uptrend.
Major Resistance Levels – $0.90, $0.95, $1.10
Major Support Levels – $0.50, $0.45, $0.40
What Is the Next Direction for Ripple (XRP)?
Presently, Ripple is in a downward move. The altcoin is in a downward correction and it is fluctuating between levels $1.20 and $1.50. The uptrend will resume if the current support holds. On the 4 hour chart, a retraced candle body tested the 38.2% Fibonacci retracement level on April 14. This retracement implies that XRP will fall to level 2.618 Fibonacci extensions or the low of $0.94.
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