XRPUSD Medium-term Trend: Ranging
Supply Levels: $0.80, $0.75, $0,70
Demand levels: $0.50, $0.55, $0.60
The XRPUSD pair had been in a range bound movement daily except on March 15 when it had another bearish pressure. From the weekly chart, you will find a downtrend of Ripple price with a trend line showing resistance levels of price.
The price of Ripple has broken the trend line and the candlestick opened and closed on the opposite side of the trend line. Meanwhile the price has resumed its range bound movement. The implication is that the price will move far away from the trend line enabling traders to make profits. Ripple is currently trading at $0.65. I am expecting Ripple to rise to the next critical level of price which is $0.70 and $0.80.
However, the RSI period 14 is level 74 which indicates that the market is overbought.
XRPUSD Short-term Trend: Ranging
From the daily chart, you will find Ripple price in a range bound movement on Sunday 18, at a price of $0.55 .The price rose to the level of $0.65 and resumed its range bound movement. Meanwhile, the RSI period 14 is level 35 which indicates that the market is nearing the oversold condition.