Ripple Price Prediction: XRP/USD Consolidates, but Cage at First Resistance

XRP Price Analysis – December 11

In the XRP/USD pair, the coin faces resistance at the $0.23, while it falls and finds support at $0.22. In the case of XRP/BTC pair, the coin traded and was resisted twice at Ƀ0.00003800 while it fell to a low of Ƀ0.00003000.

XRP/USD Market

Key Levels:
Resistance levels: $0.24, $0.26, $0.28
Support levels: $0.22, $0.20, $0.18

XRP/USD – Daily Chart

On November 25, XRP/USD pair had its last bearish impulse and the coin fell to the low of $0.20. The bulls have not been able to make an upward move to the previous highs. The coin only fluctuates between the levels of $0.20 and $0.23. The bears  defended the $0.23 price level, and it made it difficult for the bulls to penetrate it. Each time the bulls test the resistance level, the price will fall and retrace to the previous low.

XRP lacks buyers at the upper price level. Today the price has retraced to the low of $0.22 and continues consolidation for a while. After a while, the bulls will move up to retest the resistance level. Presently, the 12-day EMA is acting as a resistance to the coin. All the same, if the bulls break above the EMAs, the coin will rise and be in the bullish trend zone.

XRP/BTC – Daily Chart

Presently, Ripple is trading in the overbought region below the 80% range meaning that the coin is in a bearish momentum. The price is expected to retest the $0.23 price level.XRP/BTC is also in a bear market. Ripple fell to the low of Ƀ0.00002400 and commenced an upward move to the resistance at Ƀ0.00003800. The bulls tested the resistance twice befalling to the low of Ƀ0.00003000. The market is consolidating above Ƀ0.00003000. It appears Ripple also lacks buyers at the upper price level.

 

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About AzeezMustaph

Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.