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XRP/USD Medium-term Trend: Bearish
- Resistance Levels: $ 0.61, $0.63, $ 0.65
- Support Levels: $0.32, $0.30, $0.28
Yesterday, January 16, the XRP price was in the bearish trend zone. The XRP price was consolidating in a tight range as the price fluctuates between the levels of $0.31 and $0.33. Yesterday, the crypto was in a bullish trend and the bulls were resisted at the $0.33 price level. Today, the crypto is in a bearish trend and price is falling.
If the bears break the $0.30 price level, the crypto is likely to find support at the $0.29 price level. Meanwhile, the stochastic indicator is out of the overbought region but above the 20% range indicating that XRP price is in a bullish momentum and a buy signal. The MACD line and the signal line are below the zero line which indicates a sell signal.
XRP/USD Short-term Trend: Bullish
On the 1-hour chart, the XRP price is in a bearish trend zone. On January 16, the XRP price was in a bullish trend as it broke the 12-day EMA and the 26-day EMA but was resisted at the $0.33 price level. The crypto’s price is now in a downtrend as the price falls and it is approaching the $0.32 price level.
Meanwhile, the stochastic is out of the oversold region but above the 25% range indicating that the crypto is in a bullish momentum and a buy signal. Also, the MACD line and the signal line are below the zero line which indicates a sell 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.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.