Ripple (XRP) Price Analysis (April 27)
- XRP/USD market still trades in ranges of $0.20 and $0.18 marks.
- There seem to be no visible changes in the current market condition of XRP/USD.
- A dump below the range spots could mean a better opportunity for investors to consider joining the market.
Ripple (XRP) Price Analysis
• Major resistance levels: $0.22, $0.24, $0.26
• Major support levels: $0.16, $0.14, $0.12
XRP/USD trade worth keeps within its previously long witnessed range trading levels at $0.20 and $0.18 marks. The crypto’s capacity is a bit stronger than the US dollar as price hovers tightly below the $0.20 upper range line.
The north pathway for the bulls at the $0.20 upper range spot appears to be the main determining line to the bulls’ return of the market. In the next trading sessions, there seem to be no visible changes in the current market condition of XRP/USD.
Ripple (XRP) Technical Indicators Reading
The $0.20 upper range and the $0.18 lower range marks have enclosed all the indicators within. All the trend-lines of the Bollinger Bands have contracted closer to the $0.20 upper range value. The 50-day SMA is closely underneath the Bollinger Bands. And, they all point to the east to signify that the market still moves in side-ways. The Stochastic Oscillators are now seemingly attempting to close the hairs at range 60. That also suggests that there is an ongoing price consolidation.
It has become apparent that two price points at $0.20 and $0.18 are key to the determining of either of the two definite directions at a later trading session. A dump below the range spots could mean a better opportunity for investors to consider joining the market. Traders going short below the lower range spot should be careful of not getting whipsawed in the long run.
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.