XRP Price Analysis – November 12
XRPUSD Medium-term Trend: Bullish
Resistance Levels: $0.56, $0.58, $ 0.60
Support Levels: $0.50, $0.48, $0.46
Last week the XRPUSD pair was in a bullish trend. The crypto reached the high of $0.55 but faced resistance at the $60 price level. It was suggested in the previous week that if the price broke the $0.50 price level; the crypto would be unable to resume its uptrend. On November 8, the cryptocurrency has been fluctuating above the 0.50 price level.
Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that the price is in the bullish trend zone. As the price was resisted at upper price level, the digital currency found support at the $0.50 price level. In the same vein, the Relative Strength Index period 14 is level 56 which indicates that the price is nearing the bullish trend zone.
XRPUSD Short-term Trend: Ranging
On the short term trend, the XRP price is in a sideways trend. The crypto’s price and the exponential moving averages (EMAs) are horizontally flat at the $0.50 price level. The XRP price is neither above nor below the 12-day EMA and the 26-day EMA indicating a sideways trend. The crypto’s price is likely to encounter another price breakout.
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