XRPUSD Long-term Trend – Ranging
- Distribution territories: $0.40, $0.45, $0.50
- Accumulation territories: $0.20, $0.15, $0.10
The price of XRP has been going through ranged movements as it hasn’t been able to build upward movement after the February 8 spike it saw. The cryptocurrency has been featuring lower lows and highs around the $0.30 mark.
In the last few days, XRP’s 14-day SMA has been moving around its price. The 50-day SMA is located between the $0.35 and $0.30 marks, above the 14-day SMA. The Stochastic Oscillators have crossed around range 40 where they appear to be consolidating.
This means the cryptocurrency’s price is likely going to continue ranging. There has been no indication showing us a good buying position for XRP, as the pair needs to drop to $0.25 or less for the bulls to have a strong position. Some investors may consider entering the market now.
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