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The currency could be canceled anytime soon

Ripple (XRP) Price analysis: the currency could be eliminated at any time soon

Medium-term trend XRP / USD: variable

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Resistance levels: $ 0.38, $ 0.43, $ 0.46

Support levels: $ 0.33, $ 0.28, $ 0.22

The XRP is in line with the medium-term trend. The bullish momentum placed the currency at the resistance level of $ 0.46 on December 24th. The bears defended this level with the formation of an inverted candle model that returned the XRP price to $ 0.36 after breaking the resistance level of $ 0.43. On December 25, the state of equilibrium began; this is the scenario in which neither bulls nor bears are able either to push the coin or to push it downwards, respectively.

The 21-day EMA and the 50-day EMA approach one another, positioned horizontally without direction on the resistance level of $ 0.38. The currency is suspended between the two EMAs indicating that consolidation is under way. The period of the stochastic oscillator 14 is at the oversold level (below 20 levels) with downward signal lines indicating that the currency could sell further and find support at $ 0.28.

Short-term trend XRP / USD: bearish

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The XRP / USD still maintains its bearish trend in the 1-hour chart. Several bulls were made by the bulls to push the coin towards the resistance level of $ 0.43, but always rejected by the dynamic resistance of EMA of 21 days and 50 days. This morning, the second candle formed at the opening of the market was a bearish candle that knocked down the resistance level of $ 0.38 against the support level of $ 0.33.

The currency continues its downward trend, as it trades under the 21-day EMA and the 50-day EMA. The stochastic period of oscillator 14 is located in the oversold region (below 20 levels) with the crossed signal lines upward which characterizes the gradual collection of the moment of the bulls. The formation of two or three Doji candles consecutively under the two EMAs indicates a strong indecision on the XRP market. In the event that the Bulls prevailed in the break-up of the resistance level of $ 0.38, it could have the target at $ 0.43.

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