Ripple's XRP Ledger Network Looks To Decentralize More with Trusted Validators

XRP/USD Long-term Trend: Bearish

Supply Zone: $0.50, $0.55, $0.60
Demand Zone: $0.45. $0.40, $0.35

Price of Ripple had been bearish all through the month of June. The XRP/USD pair fell from the high of $ 0.60, on June 1 to the low of $0.43 on June 29. During the month, the price was stable above the $0.45 price level as the cryptocurrency fluctuates between the levels of $0.43 and $0.51. There are indications that the bearish trend will continue and if the bears break the support level $0.43, Ripple price will find support at $ 0.24.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal for the price of Ripple . In addition, the 12-day EMA and the 26-day EMA are above the price bars of Ripple which indicates that the bearish trend is likely to continue. Meanwhile, the relative strength index period 14 is level 43 which indicates that price of the asset is in the sideways trend zone.

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

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