Resistance Levels: $ 0.61, $0.63, $ 0.65
Support Levels: $0.50, $0.48, $0.46

Last week the XRP price was in a bearish trend. The digital currency fell from the high of $0.59 to the low of $0.46 after breaking the $50 price level. Currently, the digital currency is trading at $0.48 but ranges between the levels of $0.50 and $0.60. It is appropriate for traders to initiate long trades at the lower level of price range. A stop loss should be placed below the $45 price level. The long trades should be exited before the upper price  level or when price reverses.

This is because the digital currency is likely to face resistance at the $60 price level.
Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing.

On the 1-hour chart, the XRP price is in a bullish trend. The XRP price is above the 12-day EMA and the 26-day EMA which indicates that price is rising. Nevertheless, the Relative Strength Index period 14 is level 61 which indicates that price is in the bullish trend zone.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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