Ripple (XRP) Price Analysis (April 21)


Key Highlights

  • 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

Conclusion

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.

 

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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