XRP (XRPUSD) Price Forecast: July 17
The bulls are gaining strength in the XRP market at the moment. The coin price having reclaimed the $0.735 supply mark amidst market uncertainties may continue its bullish movement. If buyers should aggressively increase their activities in the market. The coin might further climb up to retest its previous high of $0.933 mark resulting in an opportunity for the buying traders.
Key Levels:
Resistance Levels: $0.50, $0.60, $0.70
Support Levels: $0.40, $0.30, $0.20
XRP (USD) Long-term Trend: Bullish (Daily Chart)
The XRP pair is experiencing a jolly bullish move in its long-term view. The coin price is now strongly trading above the moving averages with huge volumes from the bulls. Thus, the recent market structure has favored the bulls.
The sustained bullish pressure from the bulls at $0.933 on the 14th of July has made the coin price remain firm in an upside in its recent high.
After dropping the price action to the $0.674 low value by the sell traders during yesterday’s session, pressure from the bulls turned up the price of XRPUSD to the $0.735 high mark above the two EMAs as the daily chart opens today. Thus, more gains are possible if the bulls can put extra effort into the price action.
Next, the momentum indicator pointing upwards suggests the continuation of the bullish trend. The price of XRP might possibly retest the previous high of $0.933 value which can further extend to the $1.00 upper resistance value in the coming days in its long-term outlook.
XRP (USD) Medium-term Trend: Bullish (4H Chart)
The XRPUSD pair portrays a bullish market trend in its medium-term outlook. The price responded to the shift in the market structure and is currently above the two EMAs. Thus, the bulls are capable of pushing higher from this trend line.
The bullish pressure at the $0.933 high level in the past few days has sustained the coin price in an upward trend in its recent high.
After completing the dip-lows at the $0.712 value, the bulls made a correction to the $0.731 resistance value above the two moving averages as the 4-hourly chart opens today. This implies an uptrend and the bulls remain stronger in the market. Thus, an additional buying effort by the bulls could break out from the current supply to retest the $0.933 supply value soon.
Hence, new entries from the buy traders toward the higher side are likely as indicated by the momentum indicator pointing upward. The bulls could therefore aim at the psychological level of $1.00 in the upper resistance area in the days ahead in its medium-term perspective.
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