XRP/USD

XRP/USD

Gate Trade Ripple Thursday, April 9, 2020 411 0

The bulls are finding it difficult to propel XRP above the 50-day SMA ($0.20). This shows that the bears are unwilling to throw in the towel without a fight. However, if the bulls can defend the support at the 20-day EMA ($0.18), it will signal demand at lower levels.

 

If the XRP/USD pair breaks above $0.216, a rally to $0.25 is possible. The moving averages are on the verge of a bullish crossover, which is also a positive sign.

Contrary to our assumption, if the pair turns down from the current levels and dips below $0.16, it will signal weakness. Therefore, the long positions can be protected with a stop loss of $0.155.