Ripple (XRP) Price Analysis (May 5)
• XRP/USD market still dominated by variant lower ups and lower downs around $0.22 value.
• XRP/USD pair tends reversals from around $0.23 and $0.19 price territories in a continuation of the range market trading situation.
• If XRP/USD bears put effort against $0.23 and $0.22 lines, the pair will be at risk seeing more low values once again.
Ripple (XRP) Price Analysis
• Major distribution territories: $0.22, $0.24, $0.26
• Major accumulation territories: $0.18, $0.16, $0.14
XRP/USD financial instrument still dominated by variant lower ups and lower downs around the same range trading line it has kept over the time at $0.22 mark. The crypto’s forces have not been able to regain momentum, to move northward further since it hit a higher territory at $0.24 on the last trading day of April.
XRP/USD bears are more seemingly intensifying efforts than bulls to push the market downward away from the $0.22 current range trading area. Meanwhile, it may take bears a few times to succeed at that.
Ripple Technical Indicators Reading
The Bollinger Bands now placed around the range trading line at a $0.22 mark. And, they point towards the east direction. The 50-day SMA trend-line and the Middle Bollinger Band are closely around the range trading point. All of the readings yet technically indicate an ongoing range of price moves in XRP/USD trade. The Stochastic Oscillators have placed between ranges 20 and 60. But, they now appear to cross the hairs soon near below the range of 60. And, could eventually signal a downturn moves in the crypto-market operations.
Being as it is, XRP/USD market operations are in an inactive trading mote that could cause unsafe positional entries if traders fail to exercise some degree of cautiousness in placing orders. In the meantime, the crypto-trade tends to witness different reversals from around $0.23 and $0.19 price territories in a continuation of the range market trading situation.
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.