XRPUSD Long-term Trend – Ranging
- Distribution territories: $0.50, $0.55, $60
- Accumulation territories: $0.25, $0.20, $0.15
XRP has been seeing its price move within a specific range since the beginning of this year. The cryptocurrency’s price line is located at $0.35, which has been an area in which it’s trading around.
The 14-day SMA is currently very close to the 50-day SMA, and they’re both close to the $0.35 mark, with the $0.40 remaining the top barrier of XRP’s current range. The Stochastic Oscillators are consolidating around range 20, which means the price of XRP is still consolidating.
The cryptocurrency may still feature lower lows and lower highs in the next few trading sessions. The bulls can potentially stage a comeback when the market rallies against the lower end of its range, to push past both its SMAs.
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