XRPUSD Long-term Trend – Ranging
Distribution territories: $0.80, $0.90, $1
Accumulation territories: $0.30, $0.20, $0.10.
The price movements of various cryptocurrencies have been filled with similarities in the last few days. XRP’s price recently moved upward from the $0.45 mark and tested the territory slightly above the $0.55 mark.
The cryptocurrency then wasn’t able to keep on going up, and eventually pulled backwards towards the $0.5 mark on November 6. Since then the cryptocurrency has been trapped within a range. The two SMAs are close to each other, below the current range.
The Stochastic Oscillators have dropped below range 60. This could mean XRP’s price is set to see lower highs in the near future, with the two SMAs expected to serve as a support for a potential bullish trend. Investors can consider entering the market now.
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