Ripple Price Analysis – March 30

Azeez Mustapha

Ripple, XRPUSD, CryptoCompare chart

XRPUSD Medium-term Trend: Bearish

Supply Levels: $0.54, $0.52, $0.50                                          

Demand levels: $0.42, $0.46, $0.48

XRPUSD pair also share in the price fall among the cryptocurrencies but presently trading at $0.48, as at the time of writing. From the weekly chart, price fell from $0.70 to $0.48. Meanwhile, the RSI period 14 is level 29 which indicates that the market is oversold suggesting bulls taking control of the market. Traders should look out for buy set ups.

XRPUSD Short-term Trend:  Bearish

Ripple, XRPUSD, CryptoCompare chart

From the daily chart, price of Ripple is in a smooth downtrend with a bearish trend line. Price of Ripple got stalled at $0.48 and retraces to a range bound movement. Meanwhile, the RSI period 14 is level 58 which indicates that price is in the range bound zone. Ripple price is in a range bound movement and may possibly have a breakout in the nearest future.

Price is almost near the bearish trend line and if it breaks the trend line and the candlestick closed on the opposite of it; then the downtrend will come to an end. I don’t see price breaking the support level and if it does, the downtrend will resume.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research

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