XRP Price Analysis – December 4


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XRP Price Analysis – December 4

xrp-price-analysis-december-4

  • XRP has beeen trading above the $0.34 level, and below the $0.40 level.
  • If the bearish trend continues the crypto will find support at its previous low of $0.28.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Ranging

Resistance Levels: $0.56, $0.58, $ 0.60

Support Levels: $0.34, $0.32, $0.30         

Since November 25, XRP’s price has been on a sideways trend. The cryptocurrency has been fluctuating between the $0.3 and $0.4 levels. On said day, its price fell to a $0.34 low, and entered a range-bound movement. The bears were unable to break through this level, while the bulls weren’t able to break through $0,.4.

Yesterday, the bears tested the range’s low end, but the bulls fought back. The cryptocurrency’s price is currently below the 12-day EMA and the 26-day EMA which indicates it’ll likely keep dropping. The Stochastic Oscillator is above range 20, which indicates bearish momentum is taking it into the oversold territory.

XRPUSD Short-term Trend: Ranging   

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

On the short-term, XRP is in a sideways trend. Yesterday, its price fell to a low of $0.34 and started a bullish movement. The bulls have been resisted at the 12-day EMA and the price is now falling to a lower price level. This has been the scenario since November 25. If the bears break the $0.34 price level, the crypto to fall to the previous low of $0.28.

On the other hand, if the bulls are in control, the digital currency will face resistance at the $0.40 level.

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



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