XRP/USD Medium-term Trend: Ranging
Resistance Levels : $0.55 , $0.56, $ 0.57
Support Levels: $0.53, $0.52, $0.51
Yesterday, June 21, price of Ripple was also in a sideways trend. The cryptoasset closed trading at a price of $0.53 on the second day. On the 4-hour chart, the MACD line and the signal line are neither above nor below the zero line indicating a neutral signal.
Also, price of the cryptoasset is neither above nor below the 12-day EMA and the 26-day EMA indicating that the market is ranging. Nevertheless, the relative strength index period 14 is level 33 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. On the chart, the MACD line and signal are below the zero line indicating a sell signal. Also, price of Ripple is below the 12-day EMA and the 26-day EMA indicating that the bearish trend is continuing.
However, bearish candlesticks had touched the lower band of the Bollinger Bands.The principle is that if price touches the first low of the Bollinger Band, it is a buy signal. Nevertheless, if price touches another low of the Bollinger Band, it is now a confirmation that it is buy order.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.