XRP Price Analysis – August 14

  • The XRP price is likely to fall to the low of $0.25. 
  • Traders should avoid long trades because the bearish pressure is not over.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRP Price Medium-term Trend: Bearish

Supply levels: $0.28, $0.29, $ 0.30                                      

Demand levels: $0.25, $0.24, $0.23

Yesterday, August 13th, the XRP price was in a downward trend. During yesterday's bearish pressure the cryptocurrency fell to the low of $0.27. Today, XRP is still falling and it not clear what will be the low at the close of business. The XRP price is likely to fall to the low of $0.25. 

Traders should avoid long trades because the bearish pressure is not over. On the other hand, short trades are not necessary because the market is oversold. 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 bearish trend. It has reached the $0.26 price level and is also approaching the level at  $0.24 which is the major support level. Meanwhile, the Relative Strength Index period 14 is level 18  which indicates that the market is oversold - suggesting bulls might take control of price.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.