Ripple On The Rise: Cred Raises $50 Million to Lend Against XRP

XRP/USD Medium-term Trend: Bearish

Resistance Levels: $ 0.61, $0.63, $ 0.65
Support Levels: $0.40, $0.38, $0.36

Yesterday, November 8, the XRP price was in a bearish trend. It was suggested yesterday that if price broke the $0.50 price level, XRP price will depreciate further. Today, the $0.50 price level has been broken and the price is below the 12-day EMA and the 26-day EMA. However, the bulls are making another attempt to cross above the $0.50 price level.

Nevertheless, since the price has broken the $0.50 price level, the digital currency is likely to depreciate to the low of $ 0.46. If it does fall to the low of $0.46 and holds, traders should initiate long trades in anticipation of a bullish trend. 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: Bullish

On the 1-hour chart, the XRP price is in a bullish trend. The XRP’s price is above the 12 day EMA and the 26-day EMA which indicates that price is in the bullish 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.

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