XRP/USD Medium-term Trend: Bearish
Resistance Levels: $0.35, $0.36, $ 0.37
Support Levels: $0.30, $0.29, $0.28
Yesterday, August 8th, the XRP price was in a bearish trend. First of all, the XRP price broke out of the range-bound zone and it fell to the low of $0.40. Later it encountered another bearish trend that brought price to the low of $0.32. The XRP price at $0.32 is the lowest since the beginning of this year. Today, XRP price has commenced a bullish movement.
However, from the daily chart, 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: Bullish
On the 1-hour chart, the XRP price is in a bullish trend. The XRP price is above the 12-day EMA and the 26-day EMA which indicates that price is raising. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.