Ripple Fluctuates After Rejection from the $0.20 Resistance
Apr 11, 2020 at 12:06 //
News
Ripple fails to breach the $0.20500 resistance as bears sink XRP downward. Last week, XRP had earlier rebounded at the $0.18 low to reach $0.20500 high.
The bulls could not push price above the $0.20 resistance. In the first attempt, the XRP fell to $0.19 low. While in the second unsuccessful attempt, price reached $0.18 low.
Interestingly, Ripple is showing bullish signals above $0.18 support. A retest at the $0.20 resistance is possible as price moves up. Ripple is likely to reach a high of $0.22 if the bulls are successful above $0.20. Possibly, the momentum will reach the resistance at $0.24. On the contrary, if the $0.18 support fails to hold, Ripple may depreciate to $0.15 low.
Ripple (XRP) Indicator Analysis
Currently, XRP is below the 80% range of the daily stochastic. This explains that XRP is in bearish momentum. Before now, XRP has reached a high of $0.20500 and was in the overbought region. Sellers have already emerged to move XRP to $0.18 low. In the meantime, the price action is contrary to the bearish momentum of the indicator.
Key Resistance Zones: $0.35, $0.40, $0.45
Key Support Zones: $0.25, $0.20, $0.15
What Is the Next Direction for Ripple (XRP)?
The pair has moved up to $0.19 after the recent fall. During the recent fall, the market fell to the support above the EMAs. XRP is likely to rise again because price is above the EMAs. On the other hand, if the price is below the EMAs, the market will resume a downward move.
Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @coinidol.com By Coin Idol, @Khareem Sudlow