Ripple Price Analysis – July 5

Azeez Mustapha
  • The RSI period 14 is level 53 which indicates that price is in the range bound zone.
  • Price of Ripple has broken the bullish trend line and the price bars closed on the opposite of it.

Ripple, XRPUSD, CryptoCompare chartRipple Chart by TradingView

XRPUSD Medium-term Trend: Bearish

Supply Levels: $0.49, $0.50, $ 0.51

Demand levels: $0.47, $0.46, $0.45

Yesterday, July 4, price of Ripple was in a bullish trend. Previously, Ripple had been in a smooth downward trend up to the end of June, 29 at a closing price of $0.43. The bullish movement was up to July 4, at a price of $0.50.

However, the cryptoasset is presently in a downward trend. The MACD line and the signal 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 Ripple 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, the price of Ripple is in a bullish trend. From the chart, the red bearish candlestick has broken the bullish trend line. The implication is that the bullish trend of Ripple price may have be reversed. Either the cryptoasset will fall in price or be in a range bound movement. Meanwhile, the relative strength index period 14 is level 53 which indicates that price of the cryptoasset is in the range bound movement.

 

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