Ripple's XRP Coin Looks To Expand Despite SEC Security & Coinbase Listing Indecisions

XRP/USD Long-term Trend: Bearish

Supply Zone: $0.50, $0.55, $0.60
Demand Zone: $0.45. $0.40, $0.35

The XRP/USD pair was also in a downward trend like the other cryptocurrencies. In June, the price of Ripple closed its trading at a price of $0.46. In July, the cryptocurrency had been range bound at the levels of price. Presently, it is trading at $0.44 as at the of writing. Traders should know the market has reached the oversold condition. You are to exit your short trades and look out for buy setups to initiate long trades.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal for the cryptocurrency. In addition, the 12-day EMA and the 26-day EMA are above the price bars of the Ripple which indicates that the bearish trend is likely to continue. Meanwhile, the relative strength index period 14 is level 43 indicates that the price of the asset is in a sideways trend zone.

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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