XRPUSD Long-term Trend: Bearish
Distribution territories: $1.20, $1.10, $1.00
Accumulation territories: $0.60, $0.70, $0.80
XRPUS has been in a bearish outlook since few weeks back as the market movement has not been able to break out above the major distribution territories. The market has been more of falling lower while the major outlook is bearish. Traders should watch out for a short spike into an upward movement before entering for a short position.
The market is expected to make a slight move above the first major distribution territory at $1.00, before expecting it to take a move downwards, towards the accumulation territories at $0.80 and $0.70 respectively. The position opened could be exited at accumulation territory below $0.70.