XRP/USD Medium-term Trend: Ranging

Resistance Levels: $0.35, $0.36, $ 0.37
Support Levels: $0.30, $0.29, $0.28

Last week the XRP price was in a bearish trend. The price nosedived from the high $0.43 to the low of $0.28. And the price made a bullish movement to the high of $0.30 and later commenced a sideways movement. The market is still in a sideways trend. Traders should look out for buy setups to initiate long trades in an anticipation of a bullish trend.

However, the MACD line and the signal line are below the zero line which indicates a sell signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is continuing. Nevertheless, the Relative Strength Index period 14 is level 38 which indicates that the market is oversold suggesting bulls to take control of the market.

On the 1-hour chart, the XRP price is in a bullish trend. The XRP price is above the 12-day EMA and the 26-day EMA which indicates that price is rising. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

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

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