Ripple (XRP) Price Analysis (February 11)
- XRP/USD pair has been trading around $0.28 price territory.
- A prolong range of trade operations may be experienced around the $0.28 line.
- The XRP/USD bulls may be taking time to surge northwards.
- Major distribution territories: $0.30, $0.32, $0.34
- Major accumulation territories: $0.24, $0.22, $0.20
Ripple (XRP) Price Analysis
The US dollar worth as paired with the XRP market price has now been trading around $0.28 mark. The crypto’s market valuation is still keeping its position over a $0.26 price line.
The XRP/USD market may still prolong its range trading mode around the $0.28 price territory until a while. Afterward, a bullish move is expected to take place as the $0.26 point currently seems to be a baseline for a subsequent upward price rises.
Ripple (XRP) Technical Indicators Reading
There has now been a small location between the 14-day SMA and the 50-day SMA The two SMAs may soon join together if the bigger SMA isn’t broken downwards at a later time.
The interception of the 50-day SMA by the 14-day SMA from the top may bring about bears’ trap in the XRP/USD market. The Stochastic Oscillators have briefly penetrated the oversold region. That indicates a slow-motion in the bears’ driving effort of this crypto trade.
As at the time of writing, the XRP/USD market has little more to lose to the bears. Better still, the bulls may be taking time to surge northwards. Meanwhile, a breakdown of the $0.26 mark could make the crypto’s price to average a lower point at $0.24 value.
Disclaimer: The presented information is subjected to market conditions 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.