Ripple (XRP) Price Analysis (April 22)
- XRP/USD market’s price still trades in a range-bound.
- XRP/USD bulls may build up their energy from that price spot.
- In the meantime, XRP/USD trade’s current range moves may be prolonged further.
Ripple (XRP) Price Analysis
• Major supply zones: $0.22, $0.24, $0.26
• Major demand zones: $0.16, $0.14, $0.12
XRP/USD market’s price still trades in a range-bound it has been maintaining over a couple of weeks. There has been a notable line of small lower lows a bit over the lower range mark at $0.18. Both the market movers are having it difficult to push the price into a definite direction as they are around range trading zones of $0.20 and $0.18 values.
A downward move against the lower range point will see the crypto-market trading around the demand zone at a $0.16 line. After a while, the bulls may build up their energy from that price spot.
Ripple Technical Indicators Reading
The 50-day SMA trading indicator and the Bollinger Bands are around range price spots at $0.20 and $0.18. The Middle Bollinger Band and the SMA trend-line now closely move in the range trading zones as they point to the east direction to affirm an ongoing choppy price movement. The Stochastic Oscillators have between ranges 20 and 40 to briefly point towards north-east. That signals an indecision market situation of XRP/USD.
As there have been slow price movements in XRP/USD trade, the bears seem to launch forces against the bulls from the $0.20 upper range point. A sudden forceful spike against the upper range could mean a start point for a bullish trend. Nevertheless, reversals from bearish moves may create better chances to exert positions, especially between the lower range line and the $0.16 immediate demand zone.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.