XRPUSD Long-term Trend – Ranging
Distribution territories: $0.40, $0.50, $60.
Accumulation territories: $0.20, $0.15, $0.10.
During most trading sessions last week ,XRPUSD was seeing intense bearish trends. The bearish movements eventually took another dimension, forming a series of lower lows from Sept. 9 to 11, while the crypto’s value got pushed to test the territory of $0.25.
On Sept. 12, the crypto started featuring a set of lower highs within the range-bound territories of $0.30 and $0.25. It has been trading below the territory of $0.30 and the trendline of the 14-day SMA. The 50-day SMA is located above the 14-day SMA.
The Stochastic Oscillators have moved to touch range 20 to point north. This means that most its future price movements are likely to be in favor of lower highs. The accumulation territory of $0.20 is now a key support the bears can’t easily break.
The bulls may be mustering up strength on the $0.20 and $0.15 territories to support their upward movements in the cryptocurrency’s price. Investor may enter the market when the price dips.
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