XRPUSD Medium-term Trend: Ranging
Supply Levels: $0.68, $0.67, $0.66
Demand levels: $0.63, $0.64, $0.65
Price of Ripple had bullish breakout and the bulls are sustaining that level. However, they are yet to reach its previous level of price at $0.70 because it encountered resistance by the bears. Nevertheless, from the weekly chart, price of Ripple rose in the bullish trend to reach price at $0.70, later it fell to the low of $0.65 to resume its range bound movement.
Ripple is expected to retest the resistance level at $0.70 and if it breaks it, price will reach its previous high of $0.80. If the bulls fail to break the resistance level at $0.70, price may continue its range bound movement. The 20-day moving average is above the 50-day moving average and is trending northward indicating bullish outlook.
XRPUSD Short-term Trend: Ranging
In the daily chart, price of Ripple has a bearish outlook. The bearish outlook is the period of price fall after price reached its peak, and retraced to commence a range bound movement. The RSI period 14 is level 38 which indicates that the market is oversold suggesting bulls to take over the market.
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