XRP Price Analysis – August 17

  • XRP price is out of the range-bound zone between $0.30 and $0.25.
  • The $0.30 price is now a support and if it holds, a long position should be entered

Ripple, XRPUSD, CryptoCompare chartRipple Chart by Trading View

XRP Price Medium-term Trend: Bearish

Supply levels: $0.32, $0.33, $ 0.34                                     

Demand levels: $0.30, $0.29, $0.28

Yesterday, XRP was in a bullish trend. The price of XRP had been fluctuating between $0.30 and $0.25, in which the cryptocurrency was oversold. Today, XRP is in a bullish trend and the price has broken the resistance level at $0.30. This means it’s out of the range-bound zone. The $0.30 level is now a support and if it holds, a long position should be entered.

From the chart, the MACD line and the signal line are below the zero line which indicates a sell signal. Similarly, the price of XRP is below the 12-day EMA and 26-day EMA which indicates a bearish trend is ongoing.

XRP Price Short-term Trend: Bullish 

Ripple, XRPUSD, CryptoCompare chartRipple Chart by Trading View      

On the 4-hour chart, XRP is in a bullish trend. XRP’s price is now above the resistance level at $0.30. Its price is above the 12-day EMA and 26-day EMA which indicates the price is rising.  Meanwhile, the Relative Strength Index period 14 is level 62 which indicates the price is in a bullish trend.

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