XRP Price Prediction – February 27
On February 22, XRP/USD market operations made a failed attempt surging towards a high value of $0.70. Ever since then, the crypto’s value has continued to slightly move down to trade around a previous low of $0.40 mark.
Resistance levels: $0.60, $0.70, $0.80
Support levels: $0.30, $0.25, $0.2s0
XRP/USD – Daily Chart
As of the time of writing, the XRP/USD bullish outlook hasn’t completely lost out in shape despite the current falling move in the crypto-market. Both two SMA trading indicators are in the trading zones of $0.40 and $0.50 levels as they point to the east. About two trading candlesticks feature within them to signal a return of less-impulse market movement. The Stochastic Oscillators have penetrated the oversold region. That adds to the suggestion that the crypto-economy is potentially heading into an indecision trading circumstance in a near session.
Will XRP/USD price rebounds northward from a $0.40 low value?
The current trading outlook of the XRP/USD market at a low of $0.40 mark appears to be around of re-finding a support level for an ideal upsurge of price. The bulls may tend to lose power if price holds strong below the $0.50 level. Meanwhile, brighter chances for decent north-stride, lye around seeing bearish-reversal moves between $0.40 and $0.30 points. Therefore, buyers are urged to be on the lookout.
On the flip side, the US dollar will have to put weightier pressures on the crypto so that the bears can have smooth-ride downward the base-line value at $0.30. Meanwhile, indications have had it that bears are losing grand on a gradual note even if they tend to consolidate their positions in the next trading sessions. In other words, traders are advised to be wary of shorting positions should the $0.30 be breached southward afterward.
XRP/BTC Price Analysis
Over time, XRP as the base-pair has suffered a significant pressure inflicted on it by the valuation of the BTC as the counter-instrument in the comparison. Presently, the falling pressures have turned into featuring a series of lower lows closer to the base-line. The 14-day SMA trend-line is underneath the 50-day SMA. And, they are over the trading zone of the two instruments. The Stochastic Oscillators have briefly touched past range 80 into the overbought region. That signals that there has been a weak attempt by the base-crypto to push against the most-valued crypto in the market. That said, the downward moves have almost gotten to the very last base-point where it is more importantly expected of the base=crypto to regain its lost capacity.
Remember, all trading carries risk. Past performance is no guarantee of future results.