Long-term forecast for the Ripple Coin price: bearish
Ripple Coin experienced two rejections at $0.69 and $0.64 before entering a downtrend. It quickly fell to $0.57 on December 18, but has since recovered. However, it is still trading below the moving average lines and facing resistance at $0.63. Currently, XRP is trading between $0.58 and $0.63.
XRP indicator analysis
The price bars of Ripple Coin are below the moving average lines, indicating a potential fall. On the 4-hour chart, the price bars are above the moving average lines, suggesting a possible rise. Additionally, there are long candlestick tails at the bottom of the chart.
Technical indicators:
Key resistance levels: $0.80 and $1.00
Key support levels: $0.40 and $0.20
What is the next move for XRP?
Ripple Coin is currently in a bearish trend zone, trading below the moving average lines but above the support level of $0.57. If it is rejected at the moving average lines, it will likely return to its previous support level and continue to decline if that support is broken.
A week ago, it was reported that Ripple Coin’s price was above the moving average lines and the support of $0.63.
Hot Take: Bearish Outlook for Ripple Coin
The recent rejections from previous highs and failure to sustain upward movement suggest a bearish outlook for Ripple Coin’s price in the long term. While there may be short-term fluctuations indicated by candlestick tails at the bottom of the chart, overall resistance levels and trading below moving average lines point to a potential decline. Key support levels to watch are $0.40 and $0.20, while resistance levels stand at $0.80 and $1.00. Keep an eye on the altcoin’s movement against these indicators to make informed trading decisions.
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