After the last bearish move on March 12, Ripple’s upward move has been interrupted at the resistances of $0.19500 and $0.20500. The bulls made an impressive move to the high of $0.20500 after a rebound on April 6. Subsequently, XRP made a downward move because the coin reached the overbought region of the market. XRP fell to the low of $0.186 and resumed fluctuation above $0.18 support.
The bulls resumed upward move but the price is being resisted at the minor resistance of $0.195. In the last two weeks, XRP has been fluctuating between the levels of $0.18 and $0.195. In the last resistance at $0.195, the market fell to the low of $0.185 and resumed consolidation above it. On the upside, a rebound above $0.18, will break the resistance of $0.195 and extend to the high of $0.205.
XRP holds above $0.18 after rejection from $0.205
On the daily chart, the coin rebounded and price reached a high of $0.20500. XRP fell because of the overhead resistance. The market fell to $0.18 support and resumed consolidation. The appearance of small body candlesticks indicates that buyers and sellers are undecided about the direction of the market.
Key Levels to Watch
- Key Resistance Zones: $0.35, $0.40, $0.45
- Key Support Zones: $0.25, $0.20, $0.15
The Stochastic Indicator
Ripple XRP is below 50% range of the daily stochastic. It is indicating that the market is in a bearish momentum. The price action has confirmed as a bearish candlestick breaks below the EMAs. When price bars are below the 26-day EMA and the 12-day EMA, it means that the market will fall.
The Relative Strength Index (RSI) Indicator
The cryptocurrency has fallen to level 41 of the Relative Strength index. XRP is in the downtrend zone and below the centerline 50. The EMAs are sloping horizontally after the resistance at $0.205.