XRPUSD Long-term Trend – Bullish
- Distribution territories: $0.45, $0.50, $55
- Accumulation territories: $0.25, $0.20, $0.15
XRP’s price has been rising against the US dollar for the past couple of days. The cryptocurrency has in the past, according to the chart’s records, risen above both its SMAs to a high around the $0.55 on November 6.
After it then decline to a little under $0.30, the cryptocurrency regained momentum on December 17 and managed to push past the 14-day SMA’s line to approach the $0.4 territory, where its 50-day SMA is located. The 14-day SMA is under the 50-day SMA.
The stochastic Oscillators have closed below range 80 to seemingly start a consolidation movement. It will be necessary for XRP to breakout past the $0.40 mark for a healthy uptrend to be a possibility. However, the bears may still take the cryptocurrency’s price down for a brief amount of time.
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