XRPUSD Long-term Trend: Bearish
Supply Levels: $1.10, $1.00, $0.90
Demand levels: $0.50, $0.60, $0.70
Last week the long term trend had been bearish and the price has continued to fall almost with the same pattern with other crypto currencies. However, this week the bearish outlook will continue because a downtrend had been established. If a trend line is drawn and it touches two or more of the swings or over laps the price bars several times then it is a real trend. Traders should short along with the downtrend. The 50-day moving average and 20-day moving average are trending southward.
As the downtrend progresses you have to look for price rejection or exhaustive candlestick pattern at the demand levels of $0.50, $0.60 or $0.70 to take a long trade.
XRPUSD Medium-term Trend: Bearish
The downtrend commenced early last week and the outlook this week is still bearish. The trend line drawn showed a smooth downtrend with lower highs and lower lows. The 50-day moving average and 20-day moving average are trending southward whereas the RSI period 14 is below level 30 indicating that the market is oversold. The demand levels of $0.50, $0.60 or $0.70 may be breached.