XRPUSD Long-term Trend: Ranging
Supply Zone: $0.65, $0.70, $0.75
Demand Zone: $0.55. $0.50, $0.45
Price of XRPUSD pair is in the bearish market. When you look at the candlesticks from the monthly chart to the lower time frames, then the bearish trend of Ripple is assumed to have ended. When you draw a bearish trend line on the chart of a lower time frame, you will find that price of Ripple has broken the trend line and the candlestick closed on the opposite of the trend line. The implication is that the bearish trend is over. Presently, price of Ripple is currently trading above the support level of $0.60.
It is assumed that the bearish trend is over and if price of the asset is sustained above the support level of $ 0.60, then traders can initiate long positions at that level. Also, place a stop loss below the support level of $0.60. Meanwhile, the relative strength index period 14 is level 53 indicates that price of the asset is in the range bound zone.
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