{"id":160410,"date":"2022-07-15T13:03:42","date_gmt":"2022-07-15T13:03:42","guid":{"rendered":"https:\/\/precoinnews.com\/?p=160410"},"modified":"2022-07-15T13:03:42","modified_gmt":"2022-07-15T13:03:42","slug":"ripple-uptrend-encounters-rejection-as-it-attempts-to-break-through-0-35-high","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ripple-uptrend-encounters-rejection-as-it-attempts-to-break-through-0-35-high\/","title":{"rendered":"Ripple Uptrend Encounters Rejection as It Attempts to Break Through $0.35 High"},"content":{"rendered":"
The price of Ripple (XRP) is in a downward correction as the price breaks above the 21-day line SMA. The bulls made another bold move but failed to break the 50-day line SMA. The candle shows a protruding wick. <\/strong><\/p>\n The long wick indicates selling at higher levels as the bears try to push the altcoin below the moving averages. Selling pressure will intensify. At the time of writing, XRP\/USD is trading at $0.33. If XRP falls back below the $0.30 support, the cryptocurrency will continue to fall to the $0.25 low. On the other hand, if the support of $0.30 holds, XRP will rise again and rally above the moving average lines. The bullish momentum will extend to the high of $0.40.<\/p>\n Ripple is at the 50 level of the Relative Strength Index for the 14 period, indicating that there is a balance between supply and demand. The price bar of the cryptocurrency is above the 21-day line SMA and the 50-day line SMA, indicating a possible movement within the trading range. XRP is above the 50% area of the daily stochastic. This suggests that the market has resumed its bullish momentum.<\/p>\n <\/p>\n Key resistance levels – $0.80 and $1.00<\/b><\/p>\n <\/b><\/p>\n Key support levels – $0.40 and $0.20<\/b><\/p>\n Ripple is vulnerable to a decline as it faces rejection at the 50-day line SMA. However, buyers are trying to push the altcoin above the moving average lines. Meanwhile, on May 12 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that XRP will fall but reverse at the 1,272 Fibonacci extension level or the $0.25 level.<\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing <\/span><\/i><\/p>\nRipple indicator analysis<\/h2>\n
Technical Indicators: <\/h3>\n
What is the next step for Ripple?<\/h2>\n