Ripple Price Analysis – July 4

Azeez Mustapha
  • The exponential moving averages are trending away from the downward trend.
  • As a trading rule, in a bullish market, the price of a cryptoasset will always test the bullish trend line.

Ripple, XRPUSD, CryptoCompare chartRipple Chart by TradingView

XRPUSD Medium-term Trend: Bearish

Supply Levels: $0.50, $0.51, $ 0.52

Demand levels: $0.48, $0.47, $0.46

Yesterday, July 3, price of Ripple was in a bearish trend. The cryptoasset commenced its bullish movement at a closing price of $0.45 and rose to the high of $0.51 before retracing to the current price. However, from the chart, the MACD line and the signal line are below the zero line which indicates a sell signal.

Also, the 12-day EMA and the 26-day EMA are above the price bars of Litecoin which indicates that the bearish trend is continuing.

XRPUSD Short-term Trend: Bullish

Ripple, XRPUSD, CryptoCompare chartRipple Chart by TradingView

On the 4-hour chart, price of Ripple is in a bullish trend. A bullish trend line has been drawn on how to determine support levels in a bullish market. The principal rule is that in a bullish market if price of a cryptoasset retraces from the recent high and tests the trend line, you can initiate a long trade. From the recent high, you can see the red candlesticks that have retraced and tested the trend line.

At this point, you must allow the bearish candlestick to close and wait for a bullish candlestick to open before initiating a long order.

 

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