XRPUSD Long-term Trend – Bearish
- Distribution territories: $0.45, $0.50, $0.55
- Accumulation territories: $0.25, $0.20, $0.15
Roughly a week ago, XRP’s price was going down after it failed to break through the $0.40 mark during its bull run. Recently, the cryptocurrency traded at little over $0.35 for a few days, it has now breached the 14-day SMA southwards, and is trading close to its 50-day SMA.
The Stochastic Oscillators are moving down and have passed range 40 while doing so. This shows the bears may be getting weak and may not control the market for a while. Currently, XRP’s 50-day SMA is expected to play a crucial role in determining where the cryptocurrency is headed to next.
Meanwhile, the bears aren’t expected to pull the crypto’s price down below the accumulation territory at $0.25.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.