XRP (XRP) Price Analysis: What is the Next Direction?

The XRP (XRP) price has paused after reaching a high of $2.87 on December 2. The uptrend has continued as the cryptocurrency retraced and found support above the 21-day SMA.

After reaching a high of $2.87 on December 2, the XRP (XRP) price has paused. As the cryptocurrency retraced and found support above the 21-day SMA, the uptrend continued.

XRP’s long-term analysis is bullish

Last week, the altcoin traded above the 21-day SMA but encountered resistance at $2.80. If the 21-day SMA support holds and the bulls manage to overcome the $2.80 resistance, the uptrend will continue. After breaking through the initial resistance at $2.80, XRP will continue to rise, encountering the next resistance at $3.30. However, if the bulls are unable to break through the $2.80 resistance, the cryptocurrency will remain within its current price range.

If the bears manage to break through the 21-day SMA support, XRP will begin to fall. As a result, XRP will fall to levels above the 50-day SMA or to a low of $1.40. At the time of writing, XRP is trading at $2.40.

XRP indicator analysis

After the uptrend encountered a setback, the price bars remained above the 21-day moving average line. Two extended candlestick tails point toward the 21-day SMA. These candlestick tails indicate that the 21-day SMA support is generating strong buying pressure. The moving average lines are sloping upward, indicating an ongoing uptrend.

Technical indicators:

Resistance levels – $1.40 and $1.60

Support levels – $1.00 and $0.80

What’s the next move for XRP?

According to Coinidol.com, XRP has been trading sideways on the 4-hour chart since the rejection on December 3. The cryptocurrency’s price has been fluctuating within a narrow range of $2.00 to $2.60. Doji candlesticks have dominated the price action. The doji candlestick has halted the price movement.