XRP Price Analysis: XRP/USD Expected to Reach $0.38 Price Level

2019-4-3 12:52

Coinspeaker
XRP Price Analysis: XRP/USD Expected to Reach $0.38 Price Level

Key Highlights:The Bulls are in control of the XRP market;the price retracement is carried out by the bears;the coin may incline further towards $0.38 price level.XRP/USD Price Medium-term Trend: Bullish

Supply levels: $0.36, $0.38, $0.39
Demand levels: $0.33, $0.32, $0.31XRP/USD resumed uptrend movement on the medium-term outlook. The coin was consolidating at $0.31 demand level for more than three days. All attempts made by the Bulls and the Bears to make the coin rally failed. On April 2, the Bulls gathered enough momentum and the coin rallied to the north.

The former resistance levels of $0.32, $0.33 and $0.36 were broken upside by the Bulls’ pressure. As at the time of writing this report, a strong bearish candle is emerging pushing the XRP price below $0.36 as a price retracement.

The 21 periods EMA crossed over the 50 periods EMA fanned apart from each other and the crypto is trading over the two EMAs which indicate a strong bullish momentum in the XRP market. However, Stochastic Oscillator period 14 is at 80 levels bending down to indicate sell signal which could be a pullback.

After price retracement, XRP price will incline further towards $0.38 resistance level in case the bulls double its momentum. The bears can only take over the market in case the resistance level of $0.36 holds.

XRP/USD Price short-term Trend: Bullish

On the short-term, XRP/USD is on the bullish trend. There was a radical bullish break out from the consolidation phase that lingered for several days. The Bullish momentum pushed the XRP to the top above the resistance level of $0.36.

The “twizer top” candle pattern formed above the $0.36 level pushed the price below $0.36 level and further declination is currently opposed by the dynamic support of 21 periods EMA.

The coin is trading above the 21 periods EMA and 50 periods EMA with the two EMAs well separated connotes strong bullish momentum. The Stochastic Oscillator is at 40 levels pointing to the south connotes sell signal which may be a price retracement.

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XRP Price Analysis: XRP/USD Expected to Reach $0.38 Price Level

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Источник: coinspeaker.com

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