XRPUSD Medium-term Trend: Bearish
Supply Levels: $0.47, $0.48, $ 0.49
Demand levels: $0.45, $0.44, $0.43
Yesterday, June 26, the price of Ripple’s XRP made a pullback from its current low to a high of $0.48. The price of Ripple’s XRP has been fluctuating between the support level of $0.44 and the resistance level at $0.48.The cryptoasset is range bound for a possible breakout. Most of the cryptocurrencies are under a downward trend.
Nevertheless, if the bearish pressure continues and the support level at $0.44 is broken, the cryptoasset will find another support at $0.24. The MACD and signal lines are below the zero line which indicates a sell signal. The 12-day EMA and the 26-day EMA are above the price bars of Ripple which indicates that a bearish trend is ongoing.
XRPUSD Short-term Trend: Ranging
On the daily chart, Ripple fell from a high of $0.47 to a low of $0.45. Later, the cryptoasset made a bullish movement to a high of $0.46. The 20-day moving average and 50-day moving average are trending northward. Meanwhile, the relative strength index period 14 is at 66 which indicates that the price is in a bullish trend zone.
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