XRPUSD Medium-term Trend: Bearish
Supply Levels: $0.85, $0.80, $ 0.75
Demand levels: $0.55, $0.60, $0.65
Yesterday, May 21, price of Ripple was in a bullish market but the bulls were resisted at a price of $0.70. However, if the asset was to reach the previous highs, the resistance level at $0.70 has to be broken. Price of Ripple will resume its range bound movement if price fails to break the resistance level at $0,70. Ripple asset is currently trading at $0.66 as at the time of writing.Today, price of Ripple has fallen close to the critical support level at $0.65.
If price holds at the critical support, a long trade should be initiated and a stop loss is placed at a price of $0.60. However, if price breaks the critical support level, a short trade should be initiated and a stop loss is placed above the support level. Meanwhile, the relative strength index period 14 is level 42 indicates that price is in the range bound zone.
XRPUSD Short-term Trend: Ranging
Price of Ripple is in a smooth downtrend. Price is making a series of lower highs and lower lows. As price pulls back from its recent low, a resistance level is created as the downtrend resumes.
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