XRPUSD Long-term Trend – Ranging

Distribution territories: $0.70, $0.80, $90

Accumulation territories: $0.30, $0.20, $0.10.

This week, XRP’s price has been moving within a range bound format. In the first trading sessions the cryptocurrency was ranging around its 14-day SMA’s trend line, market by the $0.5 territory and thereabouts.

Ripple, XRPUSD, Cryptocompare chartXRP Chart by TradingView

The cryptoasset’s current range is between the $0.60 and $0.40 price territories. A spike that emerged on XRP’s charts on October 15 has made the 14-day SMA’s direction move towards that of the 50-day SMA’s trend line. XRP has been seeing a few lower lows within its range.

The Stochastic Oscillators have moved into the overbought zone. The price action from October 11 had a long bearish candlestick that established a critical support at the $0.3 territory, which is now hard for the bears to breach. It’s worth looking into the crypto if its value dips a bit further.

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