XRPUSD Long-term Trend – Ranging
- Distribution territories: $0.45, $0.50, $0.55
- Accumulation territories: $0.25, $0.20, $0.15
After witnessing a line of declines, the XRPUSD market has now entered a range moving manner below $0.35 horizontal line. During the falling process, the pair got to drop to touch its 50-day SMA for a number of days. But, it couldn’t break downwards past it.
Hence, the market has been hovering around both its SMAs as they are both located in the range zones marked at $0.35 and $0.30 points. The Stochastic Oscillators are now consolidating within ranges 40 and 20. That simply suggests that the market’s ranging movement is still on-going. While the crypto-market continues to exhibit its range price movements, it’s therefore advisable to put an entry on hold. A prolonged outlook of the range movements below the $0.35 mark may lead the crypto-pair to enter another lower range mark. Additionally, traders might want to be on the lookout for a decent long set-up of the crypto-trade. But investors may wish to consider buying into it now.
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