XRP/USD Medium-term Trend: Bearish
Resistance Levels: $0.44, $0.45, $0.46
Support Levels: $0.43, $0.42, $0.41
Yesterday, August 2nd, XRP price was in a sideways trend. The cryptocurrency had been fluctuating at the bottom of the range bound zone. Since the XRP price is ranging at the bottom, more buyers are required to push price upward. The XRP price is currently at the support level of price. Traders can initiate long trades in anticipation of a bullish trend.
Nevertheless, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. Also, the MACD line and the signal line are below the zero line which indicates a sell signal. Nevertheless, the relative strength index period 14 is level 46 which indicates that price is the sideways trend zone.
XRP/USD Short-term Trend: Ranging
On the 1-hour chart, the XRP price is in a sideways trend. The XRP price is ranging horizontally from the high of $0.45. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The XRP price is neither below nor above the 12-day EMA and the 26-day EMA which indicates that price is in a sideways trend zone.
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