XRP Price Medium-term Trend: Ranging
Supply levels: $0.45, $0.46, $ 0.47
Demand levels: $0.43, $0.42, $0.41
Yesterday, July 26, XRP’s price was still in the range bound zone. The cryptocurrency has been somewhat steady in the last 24 hours and is likely going to have a sudden breakout at key levels of its range bound zone. For this reason, traders can set pending orders at these key levels.
For instance, in order to trade a bearish breakout, placing a “sell stop” at $0.43 may be a good move. Similarly, to take partial profits in a bullish breakout, a stop at $0.51 would be made. The MACD and signal lines are below the zero line which indicates a sell signal. Moreover, XRP’s price is below the 12-day EMA and 26-day EMA which shows it’s still falling.
XRP Price Short-term Trend: Ranging
On the 4-hour chart, XRP is also in a range bound between the levels of $0.51 and $0.43. It’s below the 12-day EMA and the 26-day EMA, showing a bearish trend. Meanwhile, the Relative Strength Index period 14 is level 42 which indicates the price is in the range bound zone.
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