Ripple XRP price trend has been rather feverish in the past five days with a series of lows and highs that kept the traders on their toes. At the time of writing Ripple XRP price has recovered back to the $0.292 mark.
The highest point XRP price has touched in the past five days is the $0.302 mark on the 17th of October. But soon after the price fell down to the $0.286 low.
The following day on the 19th, Ripple XRP price climbed steadily to the $0.296 mark only to fall back down to the $0.290 range.
Since the 17th of October Ripple XRP price has failed to recover back up to the $0.30 mark. Where $0.295 seems to be the strongest resistance point at the moment. Whereas, support seems to be in the $0.284 to $0.289 range.
Ripple XRP price movement: What to expect?
The twenty-day EMA caused the abrupt rebound from the close on the seventeenth of October, carrying it above $0.30.
The bulls grapple as they try and maintain the price mark atop $0.29227, indicating selling at greater levels. A drop to the $0.24508 mark and the further decline to the $0.22 mark is probable, in case bears aim to cause further degradation of price levels.
Yet, the twenty-day increasing exponential moving average deems the advantage being on the side of the bulls due to the relative strength index landing in the positive zone.
Is case the XRP/USD duo recoils off the twenty-day exponential moving average once more, the possibility of a rise to $0.34229 is intensified. Thus, sellers can potentially increase the stop loss to a long-held position of $0.24 mark.