XRP Price Medium-term Trend: Ranging
Supply levels: $0.32, $0.33, $ 0.34
Demand levels: $0.30, $0.29, $0.28
The XRP price is in a sideways trend. Yesterday, it was suggested that the price of XRP was likely to reach the high of $0.36 and if it did, it would face resistance at that level. The price actually reached the high of $0.35 and was resisted. The price fell to the low of $0.31 and is in a range bound movement.
Presently, the cryptocurrency fluctuates between the levels of $0.36 and $0.30. If the bears break the support at $30, the price of the cryptocurrency will find support at $0.27. On the other, if that level holds, traders should initiate long trades at that level. And a stop loss below the price of $0.30. Then you can exit your trade near the resistance zone at $0.36.
This will enable you to make partials profits.On a daily 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 that a bearish trend is ongoing.
XRP Price Short-term Trend: Ranging
On the 4-hour chart, the XRP price is range bound. The XRP price is ranging at a price of $0.31. Meanwhile, the Relative Strength Index period 14 is level 44 which indicates that price is in the range bound trend zone.
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