XRP/USD Medium-term Trend: Bearish
Resistance Levels: $ 0.61, $0.63, $ 0.65
Support Levels: $0.48, $0.46, $0.44
Yesterday, November 7, the XRP price was in a sideways trend. The crypto’s price was ranging at a price of $54 when the digital currency fell. The digital currency fell because it faced resistance at the price of $0.60 which is the upper level of price range. The crypto’s price has broken the 12-day EMA and the 26-day EMA indicating that price is likely to continue its fall.
However, if price breaks the $0.50 price level, the digital currency will depreciate to the low of $0.46 and it is not likely to resume its uptrend. On the other hand, if the price remains above the $0.50 price level the crypto is likely to resume its uptrend. Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that price is in a bearish trend zone.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, the XRP price is in a bearish trend. The XRP’s price is below the 12 day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.Nevertheless, 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.