XRP Price Medium-term Trend: Ranging
Supply levels: $0.44, $0.45, $ 0.46
Demand levels: $0.42, $0.41, $0.40
Yesterday, August 2nd, the price of XRP was range bound at the bottom of the range bound zone. Today, XRP’s price still hasn’t left said zone. The bears and bulls have no control over the price at its current support level.
XRP’s price will continue its range bound movement at a price of $0.43. However, the MACD and signal lines are below the zero line which indicates a sell signal. Also, 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
On the 4-hour chart, XRP is in a range bound movement. XRP’s price bars are horizontal at the support level of the range bound zone. The moving averages are neither above nor below the cryptocurrency’s price, indicating that it’s in the range bound zone. Meanwhile, the Relative Strength Index period 14 is level 48 which indicates the price is in a range bound trend zone.
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