Australia's Independent Reserve Crypto Exchange Adds Ripple (XRP) On July 7

XRP/USD Medium-term Trend: Bullish

Resistance Levels : $0.47 , $0.48, $ 0.49
Support Levels: $0.43, $0.42, $0.41

Yesterday, July 5, price of Ripple was in a bullish trend. Trend line tool was used to determine support level in a bullish trend and initiate long trades. I think we will discontinue the trend line tool because price of Ripple has broken the bullish trend line and the candlestick closed on the opposite of it.

Technically, the bullish trend may have ended because price of the cryptoasset is in a downward trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, price bars of Ripple is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing. Nevertheless, the relative strength index period 14 is level 42 which indicates that price of Ripple is in the sideways trend zone.

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 is 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 and do not constitute financial advice. Always do your own research.

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