XRPUSD Long-term Trend – Bullish
Distribution territories: $0.90, $1, $1.10.
Accumulation territories: $0.35, $0.25, $0.15.
A few months back,XRP was experiencing strong selling pressure coupled with the various amounts of lower lows and lower highs against the market price worth of the US dollar. Between the first two trading days of September 16 and 17, the crypto was moving in a range-bound zone.
A strong spike suddenly emerged on September 18, as price was strongly pushed past the 14-day SMA to touch the 50-day SMA from below on Sept. 19. The crypto fiercely pushed northbound further above the two SMA trend-lines on September 20 and 21. It is equally been noted that all the last week’s distribution territories have been driven past northwards in the current bullish market trend. Price action has been very actively favoring the northward movement. The current fiercely bullish trend may continue trending northwards while making a definite downward correction between the territories of $0.45 and the current high price point of $0.80. A strong reversal price movement against the territory of $0.40 could put the bullish trend to an end for a while. Therefore, traders may have to be cautious of the said price territory.
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