Ripple Technical Analysis: XRP Fails To Break Above The 20-day SMA
Daily Ripple XRP Price Analysis
- Ripple price shows increasing bullish market momentum.
- XRP flips parabolic SAR to negative in the 1-day and 4-hour timeframes.
The Ripple price crashed met resistance at the 20-day SMA on July 5 and crashed from $0.695 to $0.533 till July 20. As a result of this drop, XRP formed a death cross with the 200-day SMA crossing over the 50-day SMA. Let’s take a closer look at what happened.
Ripple Price Fails At The 20-day SMA
Having found healthy support at $0.53, the Ripple price jumped up to $0.61 till July 24. This uptrend was blocked by the 20-day SMA, following which it dropped $0.60. Due to this climb, the MACD has reversed from red to green.
Image: XRP/USD daily
In the 4-hour time frame, the Ripple Price has been trending horizontally around $0.60 for nine straight sessions. XRP is currently sandwiched between 200-bar and 20-bar SMAs. The parabolic SAR has also reversed from positive to negative.
Image: XRP/USD 4-hour
Ripple Price Is Expected To Reach These Levels
The Ripple price needs to retake the 20-day SMA to continue the upward trend.