2019-2-9 08:05 |
XRP /USD Price Long-term Trend: Ranging Supply levels: $0.56, $0.58, $ 0.60 Demand levels: $0.30, $0.28, $0.26
The price of the XRP/USD pair had been in the bearish trend zone since January 10. The bears broke the 12-day EMA, the 26-day EMA and price fell to the low of $0.33. The crypto further depreciated to the low of $0.29 before the price breakout. On February 8, at the low of $0.29, the crypto made a bullish movement.
The bulls broke the 12-day EMA, the 26-day and the bearish trend line. When price breaks the trend line and the following candlestick closes at the opposite of the trend line; the bearish trend is said to be terminated.Technically, it is assumed that the bearish trend is over and the crypto’s price is in the bullish trend zone.
The crypto’s price is above the EMAs and price is expected to rise and reach the highs of $0.33 and $0.40 price level. The crypto’s price is currently trading at $0.32 as at the time of trading. Meanwhile, the MACD line and the signal line are below the zero line which indicate a sell signal. In addition, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish 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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