Ripple Price Analysis – June 21

Azeez Mustapha
  • The Ripple price made four attempts to break the resistance level at $0.55, but without success.
  • The relative strength index period 14 is level 44 indicating that the price is in the range-bound zone.

Ripple, XRPUSD, CryptoCompare chartSource: CryptoCompare

XRPUSD Medium-term Trend: Ranging

Supply Levels: $0.54, $0.55, $ 0.56

Demand levels: $0.52, $0.49, $0.48

Yesterday, June 20, the Ripple price was in a range-bound market. The price made four attempts to break the resistance level at  $0.55 but without success. Since the price is attempting to break the critical levels of  the market, you can adapt to trade the cryptoasset with a range-bound market strategy.

One could simply take a short trade at the resistance level and exit near the support zone. On the other hand, you could take a long trade at the suppor tlevel  and exit near the resistance zone. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

In addition, the 12-day EMA and the 26-day EMA are above the price of the cryptoasset which indicates that the bearish trend is ongoing, although the signals are not boldly visible.

XRPUSD Short-term Trend: Ranging

Ripple, XRPUSD, CryptoCompare chartSource: CryptoCompare

The 1-hour chart shows Ripple in a range-bound movement. The cryptoasset ranges at $0.54 and falls to $ 0.53. The 20-day moving average and 50-day moving average are trending along the price level of the cryptoasset. Meanwhile, the relative strength index period 14 is level 44 indicating that the price is in the range-bound zone.

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