Ripple (XRP) Price Analysis (May 13)


Key Highlights

• XRP/USD market operations trade in a tight range zone below $0.20 mark.
• Bears tend to be gaining grand around the $0.20 range trading line at the expense of bulls’relaxation.
• It is most likely that the current range price moves will linger on for a while.

Ripple (XRP) Price Analysis

• Major supply zones: $0.22, $0.24, $0.26
• Major demand zones: $0.18, $0.16, $0.14

It is now apparent that the valuation of XRP/USD market operations trades in a tight range zone below $0.20 mark. The USD currency seems to continue to hold back the crypto’s value, around or a bit below the trade-line earlier said. Presently, XRP/USD price hovers closer below the range point.

There is a sign of relaxation in the bulls’ stance, causing the current chain of lower swing highs and lower swing lows in the market. It is most likely that bears may be regaining position around the range value to push down towards a demand zone at $0.18 mark.

Ripple Technical Indicators Reading

The Upper Bollinger Band trend-line has intercepted the 50-day SMA trading indicator from the top. All the Bollinger Bands’ trend-lines are around a range trading point of $0.20. XRP/USD market has confined within the bounds of the Bollinger Bands. That indicates that there is a severe ongoing choppy price move in the crypto-trade. The Stochastic Oscillators have moved upward from range 40, to now close the hairs closer below range 80. That signals that there is a tight-sideway market moves presently ongoing.

Conclusion

Every technical trading indicator still shows that XRP/USD buyers are not in a hurry to rebound against a decline in the market lately. The current range trading mode appears to be on for a while. And, bears not expected to keep a sustainable push below a $0.18 zone if the market has to witness a dump afterward.

 

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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