XRPUSD Long-term Trend – Ranging

  • Distribution territories: $0.45, $0.50, $0.55
  • Accumulation territories: $0.25, $0.20, $0.15

The price of XRP has been slowly depreciating while moving within a range against the US dollar over the last few trading sessions. The crypto’s range is currently defined between the $0.35 and $0.30 marks. A short decline on April 24 saw its price intercept both its SMAs.

Ripple, XRPUSDXRP Chart by TradingView

XRP’s 50-day SMA is located over its 14-day SMA, within the range. The Stochastic Oscillators are at about range 20. Every indicator seems to be pointing north, showing the momentum acquired may see XRP drop in the near future.

Traders have to be patient and wait for the price to move up before considering a long position. Investors may buy now.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.