XRP/USD Medium-term Trend: Bearish
Resistance: $0.59 , $0.60, $ 0.61
Support: $0.57, $0.56, $0.55
Yesterday, June 11, Ripple asset fell to the low of $0.57. It was assumed that the asset might continue with its fall to its previous low at $ 0.55. Also, that if the asset fell to its previous low traders should initiate long orders at that level. Meanwhile, Ripple is currently trading at $0.58 as at the time of writing.
From the 4-hour chart, price of Ripple is in a sideways trend. The Ripple asset now fluctuates from the low of $0.57 to the high of $0.59. Meanwhile, the MACD line and the signal line are below the zero line indicating a sell signal for the asset. Also, the 12-day EMA and the 26-day EMA are above the price bars of Ripple asset indicating that the bearish trend is ongoing.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, price of Ripple is in a bearish trend. However, in the lower time frame, the MACD Line and the signal line are below the zero line indicating a sell signal. Whereas the 12-day EMA and the 26-day EMA are neither above nor below the price bars of the asset which results in a neutral signal.
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