October 29, 2024 18:34 // Price
Ripple Coin (XRP) price maintains a sideways pattern and remains above the $0.50 support but below the moving average.
XRP long-term analysis: ranging
On October 25th, the bears fell below the $0.50 support but recovered above it. Currently, XRP is correcting upward as it approaches the moving average. If the price breaks out of the moving average, it will reach a high of $0.56 and reach a high of $0.65. However, if the altcoin moves away from the moving average, it will fall. XRP will test previous lows of $0.47 and $0.43. Current value is $0.52.
XRP indicator analysis
Since October 2nd, the price bar has remained below the horizontal moving average. This shows that the decline in cryptocurrencies continues. The 21-day SMA acts as resistance for the price bar. Additionally, Doji candlesticks dominate price movements. This means that the price movement is constant.
Technical indicators:
Key resistance levels – $0.80 and $1.00
Major support levels – $0.40 and $0.20
What is the next direction for XRP?
The 4-hour chart shows that XRP is trending sideways above the $0.50 support level. The cryptocurrency is hovering between the $0.50 support level and the $0.56 resistance level. The sideways trend will continue as the altcoin is trapped between the moving averages. If buyers push the price above the 50-day moving average, XRP will rise. If the price falls below the 21-day moving average, it will likely fall again.
Disclaimer. This analysis and forecast is the author’s personal opinion. They are not recommendations to buy or sell cryptocurrencies and should not be considered an endorsement by CoinIdol.com. Readers should do their research before investing in a fund.
