XRP Price Analysis – September 12

Azeez Mustapha
  • The XRP price would depreciate by 91.24% if sellers sell the price at $ 0.24.
  • Traders should be on the lookout for buy setups so as to initiate long trades at the price of $ 0.24.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Bearish

Resistance Levels: $0.26, $0.28, $ 0.30                                                                                                                     

Support Levels: $0.22, $0.20, $0.18

The XRPUSD pair was in a bearish trend yesterday. Traders should be on the lookout for buy setups so as to initiate long trades. A further decline below the $0.24 price level will likely trigger more losses.

Nevertheless, the price is below 12-day EMA and 26-day EMA which indicates that the bearish trend ongoing.The MACD indicator gives a sell signal because the MACD line and the signal line are below the zero line.Traders should wait for the price to reach the next support level and the bearish trend exhausted before initiating any trade.

XRPUSD Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

On the 4-hour chart, the price of XRP is in a downward trend. If the downward trend continued the demand levels would be breached. The Relative Strength Index period 14 is level 31 which indicates that the market is oversold suggesting bulls to take control of the market.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.