Ripple XRP Price Analysis: XRP/USD is stuck between a technical rock and hard place
- Ripple is trading 1.28% as crypto sentiment is positive on Monday.
- XRP/USD is stuck between the 55 and 200 moving averages.
XRP/USD 4-hour chart
Ripple has been moving higher on Monday as the sentiment in the cryptosphere remains positive. The XRP/USD pair has bounced off the 0.21 resistance point but looks like it could make another run on the level once again. If the price does break above the aforementioned resistance zone then the red horizontal line at 0.2250 could also be tricky for the bulls.
Looking at the key feature on the chart, the price is now stuck between the 55 Exponential Moving Average and 200 Simple Moving Average. A break in either direction could tell us lots about the future trajectory of the digital asset.
The MACD is throwing up mixed signals. The histogram is in the red but the signal lines are above the mid-line. There has been a bearish cross so keep an eye on how low these signal lines can fall. The Relative Strength Index indicator is still hovering above the 50 mid-line. It recently moved away from the overbought zone so that does mean there is space for a move higher should the bulls step in once again.
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Additional levels
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
