XRP Price Analysis – March 15
XRPUSD Medium-term Trend: Ranging
- Resistance Levels: $0.56, $0.58, $ 0.60
- Support Levels: $0.30, $0.28, $0.26
Yesterday, March 14, the XRP price is in a sideways trend. On March 13, the XRP price had a price rally which reached a high of $0.33. The crypto had a downward correction to a low at $0.31. The crypto’s price had been ranging at the $0.31 price level in the last four days.
After the downward correction, the XRP price may likely be in a tight range movement. On the downside, if the bearish trend continues, the crypto will test the $0.30 lower price level and commenced a bullish trend. On the upside, the bulls may break the EMAs to revisit the $0.33 price level.
Meanwhile, the stochastic indicator is out of the overbought region but above the 40 % range which indicates that the XRP price is in a bullish momentum and a buy signal.
XRPUSD Short-term Trend: Bearish
On the 4-hour chart, the XRP price is in a bearish trend. From the chart, the bearish trend is ongoing as the bears continue to embark on the downward correction. The trend line is yet to be broken. Today, a bearish candlestick tested the trend line and continues its downward fall.
On the other hand, if a bullish candlestick had tested and broken the trend line and the following candlestick closed on the opposite of it; then the bearish trend is said to be terminated. Meanwhile, the stochastic indicator is in of the oversold region but below the 20 % range which indicates that the XRP price is in a strong bearish momentum and a sell signal.
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