Ripple, XRPUSD, CryptoCompare chart

XRPUSD Medium-term Trend: Bearish

Supply Levels:  $0.85, $0.80, $ 0.75                                      

Demand levels: $0.55, $0.60, $0.65   

Yesterday, March 10, the XRPUSD pair was in a ranging market. The asset fell to $0.79 and started a range bound movement. Ripple also broke the bearish trend line to end the previous downtrend. As the asset was ranging, the price was expected to retest the $0.82 and $0.85 highs. However, Ripple was trading at $0.68 at the time of writing.

Nevertheless, the weekly chart shows the price fell again to $0.68 which was also the low on February 5, 2018. However, if the asset depreciates again, it will find support at $0.50. The relative strength index period 14 is level 25 which indicates that the market is oversold, suggesting the bulls will take control of the market.

If the bulls take control of the market, the asset will aim to reach the $0.80 high.

XRPUSD Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chart

The daily chart shows Ripple in a bearish outlook. The price was ranging at $0.80 before it fell to $0.65. The 20-day and the 50-day moving averages are trending southward, confirming the bearish outlook.

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