XRP/USD Medium-term Trend: Bearish
Resistance Levels: $0.30, $0.31, $0.32
Support levels: $0.28, $0.27, $0.26
The XRP price was in a bearish trend from the beginning of August 2018 with an opening balance of $0.43. However, the cryptocurrency had been range bound between the levels of $0.51 and $0.43. In the last bearish breakout, the support level at $0.43 was broken and the price fell to the low of $0.41. The XRP price further depreciated to the low of $0.30.
There are indications that the cryptocurrency will depreciate to the low of $0.20.
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 the bearish trend is continuing. Meanwhile, Relative Strength index period 14 is level 37 which indicates that the market is oversold suggesting bulls to take control of the market.
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