XRPUSD Long-term Trend – Ranging
- Distribution territories: $0.40, $0.45, $0.50
- Accumulation territories: $0.25, $0.20, $0.15
XRP’s price has been trading within a specific range. The cryptocurrency has dropped to touch the lower end of its range, but on the following day it recovery slightly. The 14-day SMA is located over the 50-day SMA.
Currently, XRP has been hovering around both its SMAs. The Stochastic Oscillators are bent south within the 40 and 20 ranges. This suggests traders may want to suspend their market orders for a while.
A bearish trend may occur while the cryptocurrency continues to consolidate around its SMAs. Traders may nevertheless be on the lookout for a breakout or a breakdown.
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