Ripple (XRP) Price Analysis (April 28)


Key Highlights

  • XRP’s market has pushed northbound slightly away from a $0.20 mark lately today.
  • The bears may force XRP/USD market into another round of range price moves.
  • Indecision trading positions may feature to play along in the presumed range moves of XRP/USD market operations.

Ripple (XRP) Price Analysis

• Major distribution territories: $0.22, $0.24, $0.26
• Major accumulation territories: $0.18, $0.16, $0.14

XRP’s market has able to push northbound slightly away from a long-range trading territory of $0.20 mark lately today. As at the time of writing, the pair fluctuates basically around a mid-point of the $0.20 and $0.22 values.

The bulls’ path to the north now appears not having been exhausted as the last range line has broken out. The US dollar hasn’t as well weakened, to a large extent of not letting in another round of witnessing range price moves possibly around the next distribution territory at a $0.22 mark.

Ripple Technical Indicators Reading

The Upper Bollinger Band has briefly stretched northward above a previous upper range line at $0.20 value. The other trading indicators are pointing towards the east. Price is slightly hovering along with the trend-line of the Upper Bollinger Band. The Stochastic Oscillators have very briefly moved into the overbought region. As of now, there is a short line of upswings in XRP/USD market operations. Upon that, the market’s trend isn’t far from being in a range-bound. Therefore, some degrees of precautionary measures have to exercise for a while.

Conclusion

Despite an earlier spike in the valuation of XRP/USD market today, there is still the possibility of seeing the crypto-trade entering other range trading territories in the near time. Also, indecision trading positions may feature to play along in the presumed range of market operations.

 

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.

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