Ripple Price Analysis - February 28

Ripple, XRPUSD, CryptoCompare chart

XRPUSD Medium-term Trend: Bearish

Supply Levels: $0.93, $0.92, $0.91

Demand levels: $0.87, $0.88, $0.89

Ripple price has been in a sideways movement for some days before commencing a bearish outlook. It is a downtrend because the moving averages are above the candlesticks. This was the reason price fell from $0.93 to $0.89 as at today. The 50-day moving average and 20-day moving average are trending southward whereas the RSI period 14 is level 60 indicates that price is in the bullish trend zone.

The prices in the bearish trend have pullbacks at $0.93, $0.91 and $0.90 which are the supply levels of the market where you initiate your short trades. If you have the Fibonacci retracement tool we will apply it to this downward. In a downtrend, it is expected that if prices retrace from the low, it will encounter resistance at one of the Fib retracement levels which will give traders the opportunity to short. Later the market will resume its downward movement.

XRPUSD Short-term Trend: Bullish

Ripple, XRPUSD, CryptoCompare chart

The XRPUSD pair is in a bullish market. The 50-day moving average and 20-day moving average are trending northward whereas the RSI period 14 is level 50 indicates that average gains are higher than average losses. In an uptrend you follow the familiar logic of buying low and selling high.