XRP/USD Medium-term Trend: Bearish
Resistance Levels: $0.46, $0.47, $ 0.49
Support Levels: $0.44, $0.43, $0.42
Yesterday, July 23rd, the price of Ripple was also in a sideways trend. But yesterday the cryptocurrency depreciated to the low of $0.44. Today, XRP price is in a bullish market attempting to reach the previous highs. Nevertheless, the 12-day EMA and the 26-day EMA are above the price of Ripple which indicate that the 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 39 which indicates that the market is oversold suggesting bulls to take control of the market. This implies that traders should exit their short trades and wait for another opportunity to initiate long trades
XRP/USD Short-term Trend: Bullish
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 same vein, the price of Ripple is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is continuing.
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