The Ripple XRP in the morning of the American session is trading at $ 1.2980, below the 21 SMA and below a downtrend channel, and above strong support at $1.1719.
Ripple (XRP), has a strong support in the 3/8 of Murray around $1.1720, at this level we note that it has left a double bottom, this could be a good point to buy with medium-term objectives at the resistance of $1.9531 .
The eagle indicator is in positive territory, showing an oversold signal, which also supports our outlook for a new bullish momentum in the short term.
This week Bitcoin is making a technical correction and consolidating after having registered a new high at the levels of $64,000, in turn the altcoins are also taking a breather, like Ripple.
However, this will give us an opportunity to buy low and take a good position for the new wave that could take Ripple to the $ 2.50 level in the coming months.
Therefore, we recommend buying the XRP, above Murray’s 3/8 around 1.1720 with short-term targets at $1.5625 (4/8) and $1.9531 (5/8).
Support And Resistance Levels For April 20 – 21, 2021
Resistance (1) 1.3852
Resistance (2) 1.4773
Resistance (3) 1.5176
Support (1) 1.2440
Support (2) 1.1116
Support (3) 0.9929
The material has been provided by InstaForex Company – www.instaforex.com
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