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Buyers are dominating the Ripple market
Should the Bears interrupt the bulls at the $0.43 level, the support level of $0.39 may be penetrated, Ripple may decrease to $0.37 and $0.31 levels. An increase in the bulls’ pressure may break up the resistance level of $0.43, which may extend to $0.45 and $0.47 resistance levels.
XRPUSD Price Analysis – 26 November
Key Levels:
Supply levels: $0.43, $0.45, $0.47
Demand levels: $0.39, $0.37, $0.31
XRP/USD Price Medium-term Trend: Bearish
XRP/USD is bullish on the medium-term outlook. Three weeks ago, the sellers dominated the XRP market and it is caused by the price action that formed a bearish chart pattern called double top. The coin decreased to the support level of $0.31 after it broke down the former support level of $0.43 and $0.39. Buyers gained more momentum than that of sellers and the price was pushed up to test the resistance level of $0.40. On 24 November, buyers break up the $0.40 and expose the price to $0.43 at moment.
The ripple market is trading above the 9-periods EMA and 21-periods EMA. The Relative Strength Index period 14 is at 49 levels with the signal lines displaying a bullish direction. Should the Bears interrupt the bulls at the $0.43 level, the support level of $0.39 may be penetrated, Ripple may decrease to $0.37 and $0.31 levels. An increase in the bulls’ pressure may break up the resistance level of $0.43, which may extend to $0.45 and $0.47 resistance levels.
XRP/USD Price short-term Trend: Bullish
XRPUSD is bullish on the 4-hour time frame outlook. At the moment, the price is increasing toward the resistance level of $0.43, this is due to the formation of a double-bottom chart pattern at $0.31. It is a bullish chart pattern.
XRP price is trading above the 21-period EMA and 9-periods EMA which indicates a bullish momentum in the Ripple market. The relative strength index period 14 is at 56 levels with the signal lines pointing down to indicate a sell signal which may be a pullback. Ripple is gathering momentum maybe it can increase, Dash 2 Trade and IMPT are already at a strong bullish momentum.
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