XRP Price Analysis – December 13
In the XRP/USD pair, the coin is in a price range of $0.20 and $0.23. The coin is falling to the lower price range and may rebound. In the XRP/BTC pair, the coin is consolidating above the support of Ƀ0.00003000. The coin lacks buying power to trade at the upper price levels.
Resistance Levels: $0.24, $0.26, $0.28
Support Levels: $0.22, $0.20, $0.18
Ripple is on a downward move after testing the resistance at $0.23. XRP/USD pair has been relatively stable above $0.22 for the past four days. Today, it has dropped to a low of $0.21. XRP is expected to trade between the levels of $0.20 and $0.23. This is due to the inability of buyers to trade above the $0.23 price level.
Nevertheless, if the support at $0.22 fails to hold, the downward move will continue. XRP may rebound at a low of $0.21. However, the downtrend may resume, if the bears break below the low of $0.21. Meanwhile, XRP is trading at level 40 of the Relative Strength Index period 14. This explains that the market is in a range bound movement
In the case of XRP/BTC, the pair is fluctuating above Ƀ0.00003000. The bulls made an upward move but were resisted at Ƀ0.00003800. The coin will continue to have stiff opposition unless more buyers come in at the current price level. More buying power will enable the coin to trade at a higher price level. The pair is currently at the overbought region below 80% range of the daily stochastic indicating that price is in the bearish momentum.
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