XRPUSD Long-term Trend – Ranging
Distribution territories: $1.10, $1.20, $1.30.
Accumulation territories: $0.50, $0.40, $0.30.
Ripple persistently witnessed a series of ranging directional movements within a specified range-bound between the $1.00 distribution territory and the $0.50 accumulation territory. On April 20, the market gave up to the bulls while, on April 25, the market value fell slightly. At present, the bears are trying to pull down the price, southward in the range-bound.
The Simple Moving Average 13 has crossed the 50 one from below, under the vertical line of the $1.00 distribution territory. The Stochastic Oscillators have crossed in the overbought zone. They are now pointing southwards in the overbought zone, a bit below range 80. Sentiments on this pair are that it still needs a strong catalyst to either break upward or downward to eventually have a clearer picture of the bulls or the bears. A good entry could be observed while the price reverses from the southward direction. Traders should be cautious of taking entries within the range-bound.
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