Ripple (XRP) Price Analysis (April 21)
- XRP market has been struggling to make a recovery as paired with the US dollar.
- A high value at $0.20 ever since until the time of writing remains a resistance line against XRP/USD market moves.
- XRP/USD bears may be finding it hard to push headlong below $0.16 mark.
Ripple (XRP) Price Analysis
• Major resistance levels: $0.22, $0.24, $0.26
• Major support levels: $0.16, $0.14, $0.12
XRP trade’s position versus the US dollar has been struggling to make a recovery moves from a previous decline in the crypto’s valuation. The crypto, like many others in its category, had on April 7, bidden to surge northbound. But, it couldn’t make it past a high value at $0.20 ever since until the time of writing.
As of now, the $0.20 mark and a lower point at $0.18 have formed range trading zones of XRP/USD market operations. The XRP/USD bears may not be able to easily break through the first major support level at $0.16 and hold long below it.
Ripple (XRP) Technical Indicators Reading
Several trading Japanese candlesticks have formed around $0.20 and $0.18 XRP/USD market points over a couple of trade weeks. Like wisely, all the trading indicators are equally seen around the range trading zones. The Bollinger Bands and the 50-day SMA are all points flatly towards the east. All that back a scenario that XRP/USD market still in a choppy price movement
The US dollar seems to mount pressure on XRP around the $0.20 mark in the meantime. In other words, there is every possibility of seeing the current range price moves, continuing in the next trading sessions. In a light contrary sentiment, the XRP/USD bears are getting weaker to sustainably push southward past a low market line at $0.16 presumably at a later trading time.
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