Ripple (XRP) Price Analysis (April 30)
• XRP’s price now trades in a reversal outlook below a high value at $0.24 today.
• A breakdown of a low level at $0.20, will allow the pair to revisit some previous lows.
• It still seems to be a good time for investors to consider joining the market now.
Ripple (XRP) Price Analysis
• Major resistance levels: $0.26, $0.28, $0.30
• Major support levels: $0.18, $0.16, $0.14
XRP’s price now trades in a reversal outlook after making an upswing move towards averaging a high value at $0.24 today. The crypto couldn’t surge northward above a high resistance line closer below the point mentioned earlier. Price has dropped to trade around a low level at $0.22 point.
A sell entry point seems to form around the $0.24 mark, especially when a rejection of a rise in the crypto’s value comes to play. But, a breach-out will definitely set out the pair on more bullish moves featuring above it.
Ripple Technical Indicators Reading
The 50-day SMA indicator is under the Middle Bollinger Band trend-line. And, they are pointing towards the north to signify ongoing buying moves in the trade of XRP/USD. The Upper Bollinger Band now attempts bending closer below a high level at $0.24. That indicates that that point appears to be a key resistance line around where a pit-stop may be witnessed during the next uprises. The Stochastic Oscillators have crossed from the overbought region. And, they now point towards the south at range 60 to suggest a bearish move is imminent in near time.
An upward trend to a high resistance value at $0.24 may decimate while a low point at $0.20 mark eventually breached downward during the current retracement moving mote of XRP/USD’s price. When that assumption plays out, the crypto-fiat pair may revisit some of the previous low values between $0.18 and $0.16 support levels in the medium-term run of the market.
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.