Ripple Price Analysis – June 12

Azeez Mustapha
  • The 12-day EMA and 26-day EMA  are above the price bars of Ripple which indicates that the bearish trend is ongoing.
  • The support level $0.55 is a  good level for a buy setup.

Ripple, XRPUSD, CryptoCompare chart

XRPUSD Medium-term Trend: Bearish

Supply Levels: $0.58, $0.59, $ 0.60

Demand levels: $0.56, $0.55, $0.54

Yesterday, June 11, price of Ripple fell to the low of $ 0.56. There were indications that the asset would slide down further to the lows of $0.55 and $0.50. From the weekly chart, the price at $0.55 is the support level where price has been consolidating after the bearish breakout.

Meanwhile, the MACD line and the signal line are below the zero line which is a sell signal for the price of Ripple. Whereas the 12-day EMA and the 26-day EMA are neither below nor above the price bars of Ripple which gives us a neutral signal. The neutral signal means that it is not clear whether the bearish pressure will continue.

XRPUSD Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chart

On the daily chart, price of Ripple is in a bearish trend. On the short term trend, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the 12-day EMA and 26-day EMA are above the price bars of Ripple which indicates that the bearish trend is ongoing.

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