Bias for XRP – Bullish
Resistance Levels – $0.5000, $0.6000, $0.7000
Support Levels – $0.2000, $0.1000. $0.0500
XRP long-term outlook is a bullish trend. The rejection of bears further downward pushes of XRPUSD since 11th October after the large bearish engulfing candle returned the bulls whose pressure has put XRP in a vantage position for the much-awaited journey to the moon.
Increased bullish momentum pushed XRPUSD to $0.4488 on 12th October and further up to $0.5250 in the resistance on 15th October but later closed lower at $0.4605 due to the bears’ strong comeback.
The bears increased momentum dropped the cryptocurrency further down to $0.4561 at the support area on 20th October but lost momentum as the candle closes as a bullish railroad.
Price is above the two EMAs which indicates bullish pressure and the stochastic oscillator at 60% which implies upward price movement in the long-term.
The pattern of XRPUSD is an M with the right arm currently forming. $0.6500 in the resistance may be the bulls target in the long-term