XRPUSD Medium-term Trend: Ranging
Supply levels: $0.40, $0.42, $ 0.44
Demand levels: $0.32, $0.30, $0.28
Yesterday, the XRPUSD pair was in a bullish trend. The XRP price made a bullish movement to the high of $0.34 but was unable to hold on to the price. As tje price fails to break the upper level of the range bound zone at $0.36, the cryptocurrency is likely to continue its range bound movement between the levels of $0.30 and $0.36.
If the price breaks the upper level of the range, XRP price will likely reach the previous high of $0.45. On the other hand, if the price breaks the lower level of the range, XRP will likely reach the previous low of $0.25.
Nevertheless, 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 downward trend. From the chart, the price fell from the high of $0.35 to the low of $ The Relative Strength Index period 14 is level 59 which indicates that the market is nearing the bullish trend zone.
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