XRPUSD Long-term Trend – Ranging

  • Distribution territories: $0.40, $0.45, $0.50
  • Accumulation territories: $0.20, $0.15, $0.10

XRP’s price is still trading within a specific range, which it has maintained over the last couple of weeks. Between February 24 and 26 the cryptocurrency traded widly, but was unable to break the range.

Ripple, XRPUSDXRP Chart by TradingView

As such, XRP’s price is still following along the line of its 50-day SMA, with its SMAs being at the $0.35 and $0.30 areas. The Stochastic Oscillators have crossed below range 40, signifying the market is consolidating.

A breakdown below its current range appear to lack sustainability, meaning a potential correction will be cut short. It’s presumed the bulls will soon be able to take over the crypto’s trend, and as such traders and investors should be ready.

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