XRPUSD Long-term Trend – Ranging
Distribution territories: $0.90, $1, $1.10.
Accumulation territories: $0.35, $0.25, $0.15.
The price of XRP has been seeing significantly different ranging movements this week, just like other cryptoasset. Its ranging price movements were noticed throughout last week’s trading sessions as XRP had hit a high on September 21.
Within the first two trading days of this week, XRP’s price was seemingly inactive but on Oct. 2, a short Japanese bearish candlestick emerged to slightly push it southward past the 14-day SMA within the range-bound zone.
In the following days, XRP’s price went back to its seemingly inactive mode, until it came close to the range’s lower point. The 14-day SMA is still located over the 50-day SMA. The Stochastic Oscillators have crossed below range 60. They now appear to be starting consolidation movements around it.
This warns trading positions may be halted as the crypto is likely going to continue to range between the $.60 and $0.45 territories. The accumulation territory of $0.40 remains a critical point that can be breached southward to finally erase all the recent gains the crypto had.
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