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Ripple Fails to Push Above $0.195, Struggles Above $0.18

#OhNoCrypto

Apr 23, 2020 at 11:53 //

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The major constraint of Ripple is that it lacks buyers at higher levels

Ripple is well supported above $0.18 price level. Unfortunately, buyers have failed to push XRP above the $0.19500 resistance.

Let alone the resistance at $0.20500. Presently, the major constraint of Ripple is that it lacks buyers at higher levels. 

Analysts believe that once the $0.20500 resistance is breached, XRP will pick up momentum and rally above the $0.22 and $0.24 price levels. In the meantime, XRP is approaching the resistance at $0.19500. The crypto stands the chance of falling if buyers fail to overcome the initial resistance at $0.19500. The bears are likely to push the price to $0.18 low. Possibly a further depreciation to $0.17300 will occur if the $0.18 support cracks.

Ripple (XRP) Indicator Analysis

Following the breakdown on April 20, XRP fell to $0.1784 low. XRP survived the bearish run as it is above 40% range of the daily stochastic. The coin presently has bullish momentum. The momentum is weak as the upward move is being contested by the bears.

XRP-Coinidol_(11).png

Key Resistance Zones: $0.35, $0.40, $0.45

Key Support Zones: $0.25, $0.20, $0.15

What Is the Next Direction for Ripple (XRP)?

Ripple’s upward move is doubtful as it has the challenge of buying at higher levels. Nonetheless, an upward move is possible, if a rebound occurs at $0.19 low. This will propel XRP as price breaks through the resistances of $0.19500 and $0.20500. However, a normal price movement may face resistance.

Disclaimer. This analysis and forecast are the personal opinions of the author that 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 funds.



OhNoCryptocurrency via https://www.ohnocrypto.com/ @coinidol.com By Coin Idol, @Khareem Sudlow