XRPUSD Medium-term Trend: Bearish
Supply levels: $0.35, $0.36, $ 0.37
Demand levels: $0.30, $0.29, $0.28
The XRP price was in a bearish trend yesterday. Yesterday it was suggested that if the bearish pressure continued the XRP price would fall from $0.32 to $0.23. The XRP price is currently trading at $0.33 as at the time of writing and is ranging between the levels of $0.32 and $0.34. As the market is oversold, the bull market should take over with more buyers to push the price upward.
Nevertheless, the MACD and moving averages are still showing a bearish outlook. The MACD line and the signal line are below the zero line which indicates a sell signal. Also, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that the XRP price is falling.
XRPUSD Short-term Trend: Ranging
On the 4-hour chart, the XRP price is in a range-bound movement. From the chart, the bearish outlook is gradually changing to a range bound movement. Nevertheless, the Relative Strength Index period 14 is level 23 which indicates that the market is oversold suggesting bulls might take control of the market.
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