XRP/USD Medium-term Trend: Bearish
Resistance Levels : $0.56 , $0.57, $ 0.58
Support Levels: $0.54, $0.53, $0.52
Yesterday, June 13, price of Ripple fell from the high of $0.54 to the low of $0.51 and was approaching the price levels of April, 2018. Traders were advised to look for buy setups at the support level to initiate long trades. A bearish trend line is drawn across the resistance levels of Ripple asset to enable us determine when the bearish trend line will be over. That is, price of Ripple must break the trend line and the candlestick closed on the opposite of the trend line. Then, we will presume that price has reversed.
From the 4-hour chart, 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 above the price bars of the asset indicating that the bearish trend is ongoing. Meanwhile, the relative strength index period 14 is level 41 indicates that price is in the range bound zone.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, price of Ripple is in a downtrend. From the chart, the MACD line and the signal line are below the zero line indicating a sell signal. However, the 12-day EMA and 26-day EMA are neither above nor below the price bars of the asset. This is a neutral signal.
The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.