XRP (XRPUSD) Price Forecast: June 22
The XRPUSD price may resume an uptrend to break up the $0.584 supply level soon. A decisive break below $0.456 would bring more losses to the coin.
However, a daily candlestick above the mentioned supply level would invalidate any bearish theory. Therefore, if buyers can put more effort into their tension in the market, a shift in the trend upward to the mentioned supply will be achieved soon.
Key Levels:
Resistance Levels: $0.550, $0.600, $0.700
Support Levels: $0.350, $0.300, $0.250
XRP (USD) Long-term Trend: Bearish (Daily Chart)
XRP portrays a bearish market trend in its long-term outlook. The price responded to the shift in the market structure and is currently below the moving averages. This is due to the inflow from the sell traders.
The sustained pressure from the bears at the $0.475 support level in the past few days has contributed to its bearishness in its recent low.
Actions from the bears further dropped the coin price down to the $0.473 support level below the two EMAs as the daily chart resumes today
However, long traders can join the market or invest in the crypto with the current trend and buy at a lower rate for more gains in the future. This will reflect an increase in the trend momentum.
In a similar manner, XRPUSD will likely reverse and face the upsides as the market is trading below the 26% range of the daily stochastic; the selling pressure will end soon.
This will compel the buy traders to resume an uptrend and may likely break up the $0.584 supply level soon in its higher time frame.
XRP (USD) Medium-term Trend: Bearish (4H Chart)
According to the chart below, the medium-term outlook for the XRP market is in a bearish trend zone. It also indicates the impending next significant price shift. The bulls have benefited from the recent market structure.
The $0.484 price level was a solid resistance for the coin price as a pullback below the two EMAs as the 4-hourly session resumes today. Because there is currently a bullish correction in place, the bulls will likely continue climbing.
For the XRPUSD buyers to reclaim lost ground it needs to breach the overhead trend line to gain strong footing for further rally. A bullish breakout above the $0.540 trend line will bolster a recovery rally above the $0.565 price level.
Adding to this, the crypto is trading in the oversold region, under the influence of this market level, the coin should rise steadily soon and break up the previous high at $0.565 level to reach the $0.584 resistance level soon as we watch the crypto market turns bullish in the medium-term perspective.
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