XRPUSD Medium-term Trend: Bearish
Supply levels: $0.43, $0.44, $ 0.45
Demand levels: $0.41, $0.40, $0.39
The XRP price was in a sideways trend last week and was range-bound between the levels of $0.51 and $0.43. However, the support level at $0.43 had been broken on three occasions and each time the price pulled back inside the range-bound zone. Today, the XRP price has continued its fall. If the XRP price continues its fall, then it will find support at either $0.37 or $0.32.
However, traders should wait for a bullish breakout before initiating long trades. Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that the bearish pressure is continuing.
XRPUSD Short-term Trend: Bearish
On the 4-hour chart, the XRP price is in a range bound movement but has commenced a downward trend. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. Nevertheless, the Relative Strength Index period 14 is level 40 which indicates that the price is in the range-bound trend zone.
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