XRP Price Medium-term Trend: Ranging
Supply levels: $0.45, $0.46, $ 0.47
Demand levels: $0.43, $0.42, $0.41
Last week the XRP price was range bound between the levels of $0.51 and $0.43. The cryptocurrency made no significant movement as the price was stable. For instance, the price bars of XRP are mostly at the bottom of the range bound zone. This indicated that no buyers were available to push the price upwards. The bulls attempted to break the resistance level on July 17, but were resisted.
If the bears break the support level at $0.43, XRP price will find support at $0.33. However, if the bulls break the resistance at $0.51, XRP price will reach the high of $0.66. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Ripple is below the 12-day EMA and 26-day EMA which indicates that the XRP price is falling.
XRP Price Short-term Trend: Ranging
On the 4-hour chart, the XRP price is also range bound between the levels of $0.51 and $0.43. Meanwhile, the Relative Strength Index period 14 is level 41 which indicates that the price is in the range-bound zone.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.