XRP (XRPUSD) Price Forecast: September 26
The XRPUSD price may rise soon to end the current selling pressure. The coin holds a recovery opportunity with a bullish reversal pattern and may bounce up to a $1.0000 high level. The potential breakout from the immediate resistance of $0.51150 value will give additional confirmation for a bullish recovery if the bulls could increase their efforts in the market.
Key Levels:
Resistance Levels: $0.70000, $0.8000, $0.9000
Support Levels: $0.5000, $0.40000, $0.3000
XRP (USD) Long-term Trend: Bullish (Daily Chart)
According to the chart below, the long-term outlook of the XRP market is bullish. It also indicates the impending next price shift which may bounce up to the overhead resistance level soon. The bulls have benefited from the recent market structure.
The sustained pressure from the bears to the $0.50581 support level during yesterday’s session has made the pair remain below the supply trend levels in its recent low.
Today, the long traders however made a corrective move to a $0.51150 resistance level below the supply trend levels as a pullback as the daily chart resumes today.
This pullback may retest the breached resistance as potential support and validation that buyers can sustain higher prices.
Additionally, the price of XRPUSD which is pointing up on the daily signal implies that the price is still going up and in this case, the price might possibly bounce up to hit the $1.0000 resistance level in the nearby days and beyond in its higher time frame.
XRP (USD) Medium-term Trend: Bullish (4H Chart)
Analyzing the chart above, we can clearly see that XRPUSD is in a bullish market zone. The price currently trades above the EMA-50.
The strong push by the bulls to the $0.5130 supply trend level during the previous session has contributed to its bullish trend in its recent high.
The drop in the price of XRP to the $0.50873 low value above the EMA-9 as the 4-hour chart commenced today has no serious effect on the market as the price remains in an uptrend.
Hence, staying above the supply levels indicates a strong possibility for a bullish correction. A strong breakup above the $0.54902 resistance point could signal a change in the price trend.
Furthermore, the crypto price now approaches the oversold region of the daily stochastic, this means that the selling momentum will fade off soon. If this is achieved, the XRPUSD price may bounce up to a $1.0000 resistance level in the days ahead in the medium-term time frame.
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