XRP Price Analysis – November 9
XRPUSD Medium-term Trend: Bullish
Resistance Levels: $0.56, $0.58, $ 0.60
Support Levels: $0.50, $0.48, $0.46
Yesterday, the XRP price was in a bearish trend.The bearish trend was as a result of its inability to break the upper price level of $0.60. However, the bearish trend was terminated at a price of $0.49 and the bulls commenced a bullish movement. The crypto’s price is above the 12-day EMA and the 26-day EMA indicating that price is likely to rise.
If the price rises, the digital currency may face resistance at the price of $0.54. The Stochastic indicator is in the range below 80 which indicates a sell signal and the momentum is increasing on the downside.
XRPUSD Short-term Trend: Ranging
On the short term trend, the XRP price is in a sideways trend. The crypto’s price is fluctuating above the $0.50 price level. The bullish candlestick is being resisted at the 12-day EMA and the price is approaching the $0.50 price level. If the bears break the $0.50 price level, the digital currency will find support at $0.46 price level.
Nevertheless, the Relative Strength Index period 14 is level 48 which indicates that the price is in the sideways trend zone.
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