XRP Price Analysis – April 12 Bearish
XRP Chart by TradingView
XRPUSD Medium-term Trend: Bearish
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.33, $0.31, $0.29
The crypto's price is below the EMAs which indicates that the price will further depreciate. Today, XRP price is trading and approaching the $0.32000 price level. The XRPUSD pair is likely to face more selling at the $0.32 and $0.31 price levels. Also, the crypto's price is likely to revisit the previous lows of $0.29 and $0.30.
Meanwhile, if the bears reach the $0.31715 price level which was the previous low of the price rally, the crypto's bullish gains will be eroded. Meanwhile, the stochastic is in the overbought region but below the 60% range. This indicates that the XRP price is in a bearish momentum and a sell signal.
XRPUSD Short-term Trend: Bearish
XRP Chart by TradingView
On the 4-hour chart, the XRP price is in a bearish trend zone. The crypto's price was ranging above the $0.35 price level before climbing above the $0.36 price level. On April 10, the bears broke the $0.35 price level which degenerated into a downward trend.
Today, the price is approaching the lower price level of the previous price range. Traders should be ready to initiate long trades if the price falls to the previous lows of $0.29 and $0.30. Meanwhile, the stochastic indicator is in the oversold region but below the 20 % range which indicates that the XRP price is in a strong bearish momentum and a sell signal.
Posted from Cryptotreat Cryptotreat : https://cryptotreat.com/xrp-price-analysis-april-12-bearish/