XRP/USD Medium-term Trend: Ranging
Resistance Levels: $0.35, $0.36, $0.37
Support Levels: $0.30, $0.29, $0.28
Yesterday, August 9th, the XRP price was in a sideways trend. The Cryptocurrency had fallen from the high of $0.43 to the low $0.32 to resume its range bound movement. The XRP price is fluctuating horizontally between the levels of $0.32 and $0.33. Trades will be recommended when the price gets out of the range-bound levels.
However, the MACD line and the signal line are below the zero line which indicates a sell signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is continuing. Nevertheless, the Relative Strength Index period 14 is level 30 which indicates that the market is oversold suggesting bulls to take control of the market.
XRP/USD Short-term Trend: Ranging
On the 1-hour chart, the XRP price is in a sideways trend. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that price is falling. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
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