Ripple, XRPUSD, CryptoCompare chart

XRPUSD Medium-term Trend: Bearish

Supply Levels: $0.82, $0.80, $0.78

Demand levels: $0.70, $0.72, $0.74

In the medium term trend, the price has been fluctuating along the price at $0.90 which was a support level but now a resistance level. The ripple price initially fell from $0.89 to $0.79 to break the support level and later to $0.74 because of the negative news. However, the RSI period 14 is level 21 which indicates that the market is oversold suggesting that bulls take over the market. Traders should look for buy setup because the market is oversold.

The bears have exhausted their control of the market.

XRPUSD Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chart

In the short term trend, the price fell from $0.89 to $0.79 and nosedived again to $0.74 today as a result of negative news. The price at $0.74 is the new support level and price is expected to rise from that level. It was assumed that the selloff is over for now traders should expect bullish orders today. Meanwhile, the 50-day moving average and 20-day moving averagw are trending southward .

While the RSI period 14 is level 19 which indicates that the market is oversold suggesting that bulls should take control of the market.