XRP Daily Price Forecast – January 7

2019-1-7 10:49

XRP/USD Medium-term Trend: Bearish

Resistance Levels: $ 0.61, $0.63, $ 0.65
Support Levels: $0.35, $0.33, $0.31

Last week the XRP price was in a bearish trend zone . The crypto ‘s price was fluctuating above the $0.36 price level. The XRP price also faces resistance at the $0.38 price level. On January 6, the crypto’s price broke the 12-day EMA, the 26-day EMA and reached the high of $0.38. Today, the crypto’s price is retracing after testing the resistance at $0.38 price level.

The bulls were unable to break the $0.38 price level on more than three occasions. Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone. Meanwhile, the stochastic indicator is out of the oversold region but below the 80% range indicating that XRP price is in a bullish momentum and a buy signal. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.

XRP/USD Short-term Trend: Bullish

On the 1-hour chart, the price of XRP is in a bullish trend zone. The crypto ‘s price is retracing which has been supported by the 12-day EMA. The 12-day EMA is now a support level as  price is rising above it. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Meanwhile, the stochastic indicator is above the 20% range indicating that XRP price is in a bullish momentum and a buy signal.

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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Источник: bitcoinexchangeguide.com

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