Ripple Price Analysis – March 2

Ripple, XRPUSD, CryptoCompare chart

XRPUSD Medium-term Trend: Sideways

Supply Levels: $0.94, $0.93, $0.92

Demand levels: $0.88, $0.89, $0.90

Yesterday, XRPUSD pair has a bullish price spike that made the price to soar up and later fell to the direction of the market. Today the price is trading at $0.91 and in a sideways market. From the weekly chart, the sideways market is horizontal and flat. When a market is choppy it is advisable to abstain from trading. The reason is that the resistance and support level are not evenly apart for a profitable trading.

There is high probability of losing your capital because the market has no discernible pattern. Meanwhile, the 50-day moving average and 20-day moving average are trending horizontally whereas the RSI period 14 is level 30 indicates that the market is oversold suggesting that the bulls should take control of the market.

XRPUSD Short-term Trend: Sideways

Ripple, XRPUSD, CryptoCompare chart

The short term trend shows ripple price to be in a sideways market. On March 1,the price had a bullish price spike, later the price went into downtrend and a sideways movement. It is not tradable at this point in time because of a choppy price action. The 50-day moving average and 20-day moving average are trending sideways whereas the RSI period 14 is level 38 indicates that the market is oversold suggesting bulls take control of the market.