XRPUSD Medium-term Trend: Ranging
Supply levels: $0.40, $0.42, $ 0.44
Demand levels: $0.32, $0.30, $0.28
Last week the XRP price was range bound. The cryptocurrency was ranging between the levels of $0.36 and $0.30. On August 27th, the XRP price was in a bullish trend and the price reached the high of $0.35. Later the bears brought the price to its previous low at $0.30.
The XRP price made another bullish movement to the upper level of price range.
Today, the cryptocurrency is range-bound and approaching the lower level of the price range. The price is falling at the higher level because of a lack of buyers. If the downtrend continues and breaks the lower level of the price range, XRP will revisit the low at $0.24.
However, if the lower level holds, the price will continue its range-bound movement.
The MACD line and the signal line are below the zero line which indicates a sell signal.
XRPUSD Short-term Trend: Ranging
On the 4-hour chart, the XRP price is falling. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that price is falling. Nevertheless, the Relative Strength Index period 14 is level 46 which indicates that price is in the sideways trend zone.
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