Ripple (XRP) Price Analysis (April 23)


Key Highlights

  • XRP’s price has been making another attempt toward averaging its upper range line at $0.20.
  • The current short upsurge in the valuation of XRP/USD, could in the near time, lose momentum.
  • Yet, XRP/USD market may continue to trade in its range levels.

Ripple (XRP) Price Analysis

• Major resistance levels: $0.22, $0.24, $0.26
• Major support levels: $0.16, $0.14, $0.12

There has been another attempt made by XRP towards averaging its long upper range trading level at a $0.20 mark. The US dollar appears losing in its capacity. Hence, the reason for the short rise as at the time of writing. Price seems to push stronger in a range northward a bit more than in the past.

However, the current buying pressure still lacks the power, upon which short-term bullish traders can rely, especially while they miss out the entry at the $0.18 lower range price line. Meanwhile, it could be among good investing value levels for investors.

Ripple Technical Indicators Reading

The Upper Bollinger Band has bent down slightly within the range trading levels. And, a 4-hour candlestick has briefly push northward against it in the range levels. The Lower Bollinger Band is at the $0.18 lower range line as both the 50-day SMA and the Middle Bollinger Band move a bit over. All those suggest a relative increase in the market valuation of XRP/USD. The Stochastic Oscillators have crossed the hairs near underneath range 80 to signal more up rise potentials in a near trading session.

Conclusion

There has been no reliable price signal to suggest any ends of the long XRP/USD range market moves at the time of writing. In other words, while the crypto-trade keeps within or around its range trading levels, there’ll be room side-ways trading operations. While that assumption plays, traders should be cautious of placing orders.

 

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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