XRPUSD Medium-term Trend: Bearish
Resistance Levels: $0.56, $0.58, $ 0.60
Support Levels: $0.40, $0.38, $0.36
The price of XRP was in a bearish trend. Yesterday, the bearish trend broke the 12-day EMA and the 26-day EMA. Previously, the crypto's price was fluctuating below and above the exponential moving averages. Now the price is in the bearish trend zone and may find support at the $0.44 or $0.45 price levels.
The Stochastic indicator is in the range above 40 as the blue and red bands fluctuate. That is the bearish momentum is losing strength as price reaches the support level at $0.45.
XRPUSD Short-term Trend: Bearish
On the short term trend, the XRP price is in a bearish trend. On November 20, the digital currency reached a low of $0.45 and commenced a bullish movement. The crypto's price had been held at this price level since November 4th and 15th.
Traders are to initiate long trades around the support of $0.45 if the level holds. Remember to place a stop loss order below the $0.45 price level.
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