XRP Price Analysis – July 31

  • XRP price is out of the range-bound zone after the bearish trend.
  • The support level at $0.43 has been broken, XRP price is likely to find support at the previous low of $0.24.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRP Price Medium-term Trend: Ranging

Supply levels: $0.43, $0.44, $ 0.45                                     

Demand levels: $0.40, $0.39, $0.38

Yesterday, July 30, the XRP price was range bound between the levels of $0.51 and $0.43. Today, the bears have broken the support level $0.43.

XRP price is likely to find support at the previous low of $0.24. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of XRP is below the 12-day EMA and 26-day EMA  which indicates that a bearish trend is ongoing.

XRP Price Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

On the 4-hour chart, the XRP price is in a downward trend. The price of XRP has broken the support level at $043. The price of XRP is below the 12-day EMA and 26-day EMA  which indicates that the bearish trend is ongoing. Meanwhile, the Relative Strength Index period 14 is level 26  which indicates that the market is oversold suggesting bulls to take control of price.

                                                            

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