XRPUSD Long-term Trend – Ranging
Distribution territories: $0.55, $0.60, $65
Accumulation territories: $0.25, $0.20, $0.15
The price of XRP has been going through significant lower lows and lower highs after hitting the $0.4 mark and seeing it get breached southwards. The crypto saw its price drop to around the $0.3 mark on November 25, and move around it since then.
XRP is now apparently caged within its range. The 14-day SMA has moved down below the 50-day SMA, and is currently around the $0.4 mark. The Stochastic Oscillators are currently at range 25, and are seemingly about to consolidate.
Indicators still show the bears have a strong position in the market, and may still take XRP down below the current $0.3 mark. If it does investors may find profitable positions buying the dip and going long.
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