XRP Price In Critical Level, Will it Breakout or Dip in the Short Term

The charts highlighting the action the XRP/USD pair shows that the price of XRP has been trading in a make or break position in recent days. This has made it difficult to determine if the bulls will return for XRP. Although other coins like Bitcoin and Litecoin were bullish as of May 18-19. The price of XRP has suffered a great decline before heading to its current support position. Let’s see if the bulls can still catch up for the digital asset.

XRP Price Prediction 2019: The Price of XRP Found Support at $0.3610

After suffering a strong price decline, the price of XRP found support near $0.3610 against the USD. The XRP/USD pair launched a decent rebound which took it above both the $0.3850 and $0.4000 levels both of which are resistance positions. The recent recovery for the price of XRP was convincing because the price of the coin traded towards the $0.4200 level and settled over the 100 hour SMA.

We can see that a swing high formed at $0.4295. After that, the price of XRP corrected lower. Before it traded below the $0.4150 which is a support position and the 23.6% Fibonacci retracement area via the recent leg from $0.3632 to $0.4295.

XRP Price Prediction: The Price of XRP Approaching $0.4000 and $0.3950

The price of XRP is now approaching the key support positions near $0.4000 and $0.3950. There is a short term channel forming in an area with support close to $0.3950 via the hourly chart of the pair. The 50% Fibonacci retracement position via the recent leg from $0.3632 to $0.4295 is also approaching $0.3960.

Moreover, the 100-hour simple moving average appears to be acting as a support position near the $0.3960 level. If there’s a downside break under the $0.3960 support area, there are chances of the price of XRP recording more losses.

For the price of XRP, the next key support position is close to the $0.3780 price position. If there are any more losses in the value of the coin, the price of XRP may revisit $0.3610 which is a previously declared support region. Conversely, should XRP price successfully bounce back, it may retest $0.4200 and $0.4300. Above the $0.4300 level, the price XRP is likely to rise to $0.4500.

XRP Price Prediction 2019: The Price of XRP Will Record Gains in the Near-term

Looking at the chart, XRP price is clearly trading near a few important supports near the $0.3950 level. Therefore, the price could either bounce back or break $0.3950 to decline further. The technical structure is positive and it seems like there are chances of a fresh increase above $0.4200 and $0.4300. However, a successful follow-through above $0.4300 could open the doors for more gains in the near term.

The technical indicators show the hourly MACD line for the pair slowly entering a bearish zone but with only very few negative signals. The hourly relative strength index for the XRP/USD pair is now above the 50 position and from a positive angle. Finally, the price of XRP can find major support and resistance at $0.3950,$0.3780, $0.3610 and $0.4200, $0.4300, $0.4500.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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