Low momentum for buyers and sellers in the Ripple market
If the bears gain more momentum to push the price below the $0.37 support level, ripple It may drop to $0.31 and $0.28. An increase in bulls’ pressure could lead to a breach of the $0.39 resistance, which could extend to the $0.43 and $0.45 resistance levels.
XRPUSD Price Analysis – Dec 04
Bid levels: $0.39, $0.43, $0.45
Order levels: $0.37, $0.31, $0.28
XRP/USD Price Trend Medium-term: Range
The XRP/USD pair is range-moving in the medium-term outlook. Sellers have dominated the XRP market since the beginning of November. The scenario is caused by a price action that has formed called a double top chart pattern. The coin fell to the $0.31 support level four weeks ago after it breached the previous support levels at $0.43 and $0.39. The bearish move was opposed by buyers on November 10 and since then, the price has been in the range of $0.37 to $0.39.
The Ripple market is trading with 9 EMA periods and 21 EMA periods. The RSI 14 period is at 46 levels with the signal lines showing no specific direction. If the bears gain more momentum to push the price below the $0.37 support level, the price could drop to $0.31 and $0.28. Increasing pressure from the bulls could lead to a breach of the $0.39 resistance, which could extend to $0.43 and $0.45.
XRP/USD Short-term price trend: Range
XRPUSD is ranging from a 4-hour time frame perspective. The range movement started on November 10 when the sellers lost momentum at the $0.31 support level. The price could not breach the mentioned level due to low bearish momentum. Likewise, the $0.39 resistance level could not be breached due to declining bullish momentum.
XRP price is trading between the 21-period EMA and the 9-period EMA indicating a low momentum in the Ripple market. The RSI period is 14 at 46 levels with the signal lines showing no specific direction.