XRPUSD Long-term Trend – Ranging
Distribution territories: $0.90, $1, $1.10.
Accumulation territories: $0.35, $0.25, $0.15.
On Sept. 20, XRP saw its price surge against the US dollar, as it made a strong rebounding move. The crypto now appears to be forming another region in which it’ll enter a rage, between the territories of $0.6 and $0.45.
XRP has been trading between the territories of $0.55 and $0.50 over the past few days, above the 14-day SMA’s trend-line. The 14-day SMA and the 50-day SMA are separated by a notable gap, as the former has intercepted the latter from below. The Stochastic Oscillators have crossed and moved past range 60 to point south. This suggests there can still be downward movements in the XRPUSD pair.
The $0.40 mark shouldn’t yet be dismissed as it may serve as a warning against potential bearish trends. If the crypto’s price dips below said mark, it may keep dropping. Investors can consider buying XRP once the price dips. Traders are advised to watch out for an active price movement that will allow them to enter a position in a favorable direction.
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