- The US dollar has now forced the XRP price value into a range trading condition.
- The XRP/USD price now hovers around $0.30 and $0.28 zones.
- The $0.30 value, again seen as a strong-line retarding free upward ride of the XRP/USD bulls.
Major supply zones: $0.32, $0.34, $0.36
Major demand zones: $0.26, $0.24, $0.22
Ripple (XRP) Price Analysis
After a notable downward price movement in the XRP/USD trade operations, the US dollar has now forced the crypto’s value into a range trading condition. The crypto fell from a high point at $0.34 down to around $0.28 price value.
During trading sessions on February 16, the pair averaged lower towards the major demand zone at a $0.26 mark. Currently, the pair’s value is trading in a range outlook around price zones at $0.30 and $0.28 points.
Ripple Technical Indicators Reading
There has been an interception of the bigger SMA trading indicator by the smaller SMA from the top. And, the 50-day SMA is of more trending flat over the 14-day SMA trading indicator as they both point towards the east direction.
Price also trades around a small space between them. Above all, all these are happening around range price zones of the $0.30 and $0.28 marks of the XRP/USD market.
The XRP/USD market bulls have to make every recuperating move against the bears. But, in the course of that, they have revisited a noted pressurizing point at $0.30. Hence, the reason for the current choppy price movements of the crypto-trade. The $0.30 value has lately observed as a strong-line retarding free upward ride of the bulls in this market. And, as at now, there is no profound indication that the bulls will be sustainably breakthrough it northwardly.
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.