XRPUSD Long-term Trend: Ranging
Distribution territories: $0.80, $0.90, $1.00.
Accumulation territories: $0.60, $0.5, $0.40.
XRPUSD pair has not been able to make a good upward or downward movement from its current ranging movement, which has been in place for a few weeks. The market keeps a ranging outlook below the immediate distribution territory of $0.80 and it has only been able to move slightly downward at around the distributioon territory of $0.70. The moving average 13 and the moving average 50 maintain imperfect southward trend and price has been inactively traded below the two indicators.
Stochastic oscillator has closed a bit above the oversold zone and this signifies that market is flat or ranging. The current price formation could continue if the market fails to convincingly break the next distribution territory of $0.80 and keeps the upward movement above the distribution territory of $0.90. In that order, the price movement could continue its extension up to the distribution territory of $1.00. However, neither bearish position nor bullish position can be suggested as at the time of writing this analytical assumption. Investors can only be advised to stay aside and be watchful for a well defined market direction whenever it eventually comes up.
