Ripple (XRP) Price Analysis (May 15)


Key Highlights

• Neither XRP nor the USD has been able to make a significant move away from the $0.20 range line.
• There is a likelihood of seeing a prolonged price moves around the XRP/USD range value.
• XRP/USD bulls yet lack the sustainability power over the current range point.

Ripple (XRP) Price Analysis

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

The market point between XRP and the US dollar yet continues trade around the same range trading territory of $0.20 mark as kept quite a while. Neither the base nor the counter has been able to make a significant move away from the range line.

All in all, XRP/USD buyers have been struggling to not to let down the crypto’s valuation goes below the previous low of $0.18 point. Meanwhile, bears have continued to press down the crypto’s price from a line a bit over the range trading area.

Ripple Technical Indicators Reading

The Upper Bollinger Band trend-line and the 50-day SMA trading indicator have conjoined a bit over the current market value at around $0.20 mark. And, there is a formation of smaller candlesticks so far around the said price point. The Stochastic Oscillators have slanting placed between the overbought region and range 60. And, that shows a weak sign of getting to witness a drop in the XRP/USD market lines soon.

Conclusion

To some reasonable extent, XRP/USD bulls are still in a struggling-moving mote to surge past a range point around $0.20. Until the present, there has been no strong signal that the bulls will sustain above the market value to have a bullish trend as long as the 50-day SMA trading indicator remains unbroken 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.

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