2019-2-4 11:53 |
Last week the XRP price was neither under bull’s control nor bear’s control. The bullish gains were erased by the bearish pressure in the previous week. As the bulls reached the high of $0.33, the crypto’s price was resisted and it fell to the bearish trend zone. The XRP price now ranges between the levels of $0.28 and $0.34.
Today, the crypto is in the bearish trend zone. If the crypto’s price falls, it may retest the $0.28 price level. Traders should initiate long trades at the support level of $0.28. Meanwhile, the crypto’s price is below the EMAs which indicate that price is likely to fall. The MACD line and the signal line are below the zero line which indicates a sell signal.
XRP/USD Short-term Trend: BearishOn the 1-hour chart, the XRP price is in a bearish trend zone. On February 1, the crypto’s price fell to the $0.30 price level and commenced a bullish movement to the 12-day EMA and the 26-day EMA. The crypto’s price fluctuates above the EMAs but the bears have taken price to the bearish trend zone. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The crypto's price is below the EMAs which indicate that price is in the bearish trend zone.
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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