XRPUSD Medium-term Trend: Ranging
Supply Levels: $0.88, $0.87, $ 0.86
Demand levels: $0.82, $0.83, $0.84
The Ripple digital currency remained range bound yesterday between the resistance level at $0.90 and the support level at $0.80. Ripple has been hovering over these key levels. On April 20, the bulls took price of Ripple to the high of $0.93 but the bears resisted and brought it below the resistance level.
Since then the price of Ripple has been in a range bound movement. Ripple is currently trading at $0.85 as at the time of writing. However, if the bulls break the resistance level at $0.90, price of Ripple will likely revisit the highs of $1.10 and $1.22.
XRPUSD Short-term Trend: Bullish
In the daily chart, price of Ripple is in a smooth uptrend. The bullish trend line shows the support levels with pointed arrows where traders can initiate long orders, in a bullish market. The 20-day moving average is above the 50-day moving average indicating that price of the asset is rising.
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