Supply Levels: $0.49, $0.50, $ 0.51
Demand levels: $0.47, $0.46, $0.45
Last week, the Ripple cryptoasset was in a downward trend. The weekly chart shows that Ripple fell to its previous low at $0.44 on June 24, 2018. Thereafter, the cryptoasset made a pullback to $0.48. At $ 0.48, it started a range-bound movement. The Ripple price has reached the oversold region of the market. Traders should look out for buy setups in anticipation of a bullish trend.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price bars are above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing.
XRPUSD Short-term Trend: Ranging
The Daily chart shows that the Ripple price is in a range-bound movement. The 20-day moving average and 50-day moving average are trending horizontally at $0.48. Meanwhile, in the short-term trend, the relative strength index period 14 is level 75 which indicates that the market is overbought, suggesting the bears will take control of the market.
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