Famed Economist Paul Krugman Knocks Ripple (XRP) & Bitcoin (BTC) For Low Transactional Use

XRP/USD Medium-term Trend: Ranging

Resistance Levels: $0.45, $0.46, $ 0.47
Support Levels: $0.43, $0.42, $0.41

Yesterday, July 9, price of Ripple was in a sideways trend. In the medium term trend, the cryptocurrency is still in a sideways trend. Despite the price fall, Ripple is still fluctuating between the resistance level at $0.52 and the support level at $0.44. However, if the downward trend continued and price tested the support level of $0.44, a long trade should be taken.

Nevertheless, the MACD line and the signal line are neither above nor below the zero line which indicates a neutral signal. Also, the price bars of Ripple is neither above nor below the 12-day EMA and the 26-day EMA which indicates that price is in the sideways trend zone. Nevertheless, the relative strength index period 14 is level 36 which indicates that the market is oversold suggesting bulls to take control of the market.

XRP/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Ripple is in a bearish trend. The MACD line and the signal line are below the zero line which indicates a sell signal. In the shorter term trend, the 12-day EMA and the 26-day EMA are above the price bars of Ripple which indicates that the bearish trend is ongoing.

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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