2019-1-28 11:41 |
Last week the XRP price had been in the bearish trend zone. The bulls have failed to break above the 12-day EMA and the 26-day EMA as the EMAs provides resistance to the crypto’s price. Last week, the crypto has been ranging between the levels of $0.31 and $0.33. The bulls have not been able to break above the $0.33 price level while the bears have not been able to break below the $0.31 price level.
On January 26, the bulls break above the EMAs but the bears pulled back price to break the 12-day EMA and the 26-day EMA. Today, the crypto’s price has fallen to the low of $0.30 as at the time of writing. Meanwhile, the stochastic is in the oversold region but below the 20% range which indicates that the price is in the bearish momentum and a sell signal. The crypto’s price is below the EMAs which also indicate that price is likely to fall.
XRP/USD Short-term Trend: BearishOn the 1-hour chart, the XRP price is in a bearish trend zone. The 12-day EMA and the 26-day EMA are trending southward indicating that price is in a downward trend. Today, the crypto’s price was resisted by the 12-day EMA as the price fell to the low of $0.29. There is the likelihood that price will find support at the previous low of $0.28 . Meanwhile, 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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