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Ripple Rebounds, Attempts to Sustain Above $0.195 Resistance

#OhNoCrypto

Apr 25, 2020 at 11:45 //

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Bulls are attempting to break $0.19500 XRP resistance

Despite a rebound on April 23, the bulls could not sustain the upward move. Earlier on the market rebounded to reach a high of $0.20, but the bears pulled back above $0.19500.

In the subsequent moves, the bulls could not sustain the price above $0.19500. Nevertheless, buyers are unrelenting as the market continues to push toward the resistance at $0.19500. The bears are also unyielding as the $0.19500 resistance remains unbroken since April 10. 

At the time of writing, the bulls are attempting to break $0.19500 resistance. Ripple will rise to $0.20500 if the initial resistance is breached. Undeniably, the bears will unfailingly defend the current resistance. However, a break above $0.20500 resistance will catapult XRP to rally above $0.22 and may extend to $0.24. Meanwhile, if the bulls turn down from resistance, the bears may break $0.18 support.

Ripple Indicator Analysis

With the recent move, XRP is above 50% range of the daily stochastic. The coin is in a bullish momentum as the bulls continue to attempt the resistance level. The price is now above EMAs indicating the rise of XRP.

XRP-coinidol_(12).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 is rising as bulls attempt to break the resistance at $0.19500. The bottom line is that XRP will fall if buyers fail to breach the resistance at $0.19500. In the previous failed attempts, the market fell below the $0.18 support.

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