Ripple, XRPUSD, CryptoCompare chart

XRPUSD Medium-term Trend: Sideways

Supply Levels:  $1.05, $1.00, $0.95                                           

Demand levels: $0.75, $0.80, $0.85

Yesterday, ripple price was in a bullish market and  I said that it is necessary to place a pending order at the demand level of the market because of a possible break out. The XRPUSD pair had a breakout at the demand level of the market yesterday.  Today the pair is in a sideways market trading at $0.92. The pair has a sideways movement before  it started experiencing a decline in prices. Since it is a sideway market it is not tradable.

Meanwhile, 50-day moving average and 20-day moving average are trending sideways whereas the RSI period 14 is level 37 which indicates that the market has reached the oversold condition.

XRPUSD Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chart

The short term trend is bearish. The market is bearish because the moving averages are above the candlesticks. In a downtrend it has been established that if  the price  retrace from the low  it wiil create a resistance level where traders would have the opportunity to short their trade. In the 1-hour chart the market  also show moving averages below the candlesticks indicating that price is rising.

Meanwhile, the RSI period 14 is level 50 indicating that the average gains are higher than average losses.