XRP Price Analysis – August 24

  • The XRP price may continue to range in the couple of days to come.
  •  It was assumed that if the bears broke the support level at $0.30, the XRP price would find support at $0.27.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRP Price Medium-term Trend: Ranging

Supply levels: $0.33, $0.34, $ 0.35                                    

Demand levels: $0.30, $0.29, $0.28

The XRP price is range-bound. Yesterday, the cryptocurrency was ranging horizontally between the level of $0.31 and $ 0.32. But on August 18th, the XRP price had been ranging between the support level at $0.30 and the resistance level at $0.36. Yesterday, the price fell to the low of $0.31. It was assumed that if the bears break the support level at $0.30, the XRP price would find support at $0.27.

Today, the XRP price is ranging horizontally. The XRP price may continue to range in a couple of days to come. The cryptocurrency is not trending evenly apart the resistance and support levels. On the 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  

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View     

On the 4-hour chart, the XRP price is range bound. The XRP price is ranging horizontally at a price of $ 0.32. Meanwhile, the Relative Strength Index period 14 is level 45 which indicates that the price is in the range-bound trend zone.

 

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