XRPUSD Medium-term Trend: Ranging
Supply Levels: $0.52, $0.51, $0.50
Demand levels: $0.46, $0.47, $0.48
Yesterday, Ripple price was in a range bound movement. Today, the range bound movement continues, but trading at $0.48. From the weekly chart, the Ripple price is fluctuating between the resistance at $0.55 and the support at $0.45. The bears and the bulls have had equal share in the range bound movement. Firstly, the bears commenced the range bound movement when it took price to its first low in April at $0.46.
Thereafter, at a price of $0.46, the bulls took it to the high of $0.55. Again, the bears took possession and brought price to its low at $0.46, this week. The bulls are currently holding price and are pushing it to its previous high of $0.55.
XRPUSD Short-term Trend: Ranging
In the daily chart, the Ripple price is fluctuating between the resistance at $0.49 and the support at $0.47. The bulls are in control and are currently pushing price at $0.49. Meanwhile, the RSI period 14 is level 77, which indicates that the market is overbought, suggesting bears to take control of the market.
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