XRPUSD Medium-term Trend: Bullish

Supply levels:  $0.85, $0.80, $0.75                                      

Demand levels: $0.55, $0.60, $0.65

Yesterday, Ripple was in a bullish market. However, before the bullish trend, Ripple has been ranged bound for two weeks, fluctuating between $0.46 and $0.50. On April 12, the XRPUSD pair had a bullish trend that brought the price to $0.70. Today, the resistance at  $0.70 had been broken.

Traders should consider initiating a long trade at $0.71. On the other hand, traders can use the bullish trend line to initiate their trades. The simple logic is that. in an uptrend, when the price retraces from the recent high, or when the price pulls back to the trend line, you can initiate your long positions.

For instance, on April 12, look at the blue candlestick on the trend line. As the bearish candlestick (Red) is closing on the trend line, then you can place your long trade. That was the first breakout trading on this chart, as you can see the blue candlesticks going up.

XRPUSD Short-term Trend: Bullish

Ripple, XRPUSD, CryptoCompare chart

The daily chart shows how Ripple traded. The price fell to $0.67 and, after bouncing from that level, it commenced its uptrend movement before it was resisted at $0.72. The price fell from $0.72 but later went into a range bound movement.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.