XRPUSD Long-term Trend – Ranging
- Distribution territories: $0.40, $0.45, $0.50
- Accumulation territories: $0.25, $0.20, $0.15
The price of XRP has been moving in a not-so-exciting fashion in the last few trading sessions. The cryptocurrency has been moving within a range between the $0.35 and $0.3 territories since January 11.
The 50-day SMA is located above the 14-day SMA with a small space between them. The Stochastic Oscillators are still consolidating around range 20 which implies a significant amount of lower lows can still be seen in the near future.
An important price point to keep in mind is December 17’s low of $0.28, which can see traders enter low positions if its broken southwards. The bears may still lose some of their influence in the market if it drops below $0.3 and $0.2.
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