XRP/USD Medium-term Trend: Bearish
Resistance Levels: $0.40, $0.41, $ 0.42
Support Levels: $0.39, $0.38, $0.37
Yesterday, August 6th, the XRP price was in a bearish trend. The bearish trend resulted in compelling the XRP price to break out of the range-bound zone of $0.51 and $0.43. Today, XRP price has continued its downward fall. Price of the cryptocurrency has reached the low of $0.40 as at the time of writing.
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 26 which indicates that the market is oversold suggesting bulls to take control of the market.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, the price of XRP price is in a bearish 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. If the XRP price continues its downward fall, the support level would be breached.
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