XRP/USD Medium-term Trend: Ranging
Resistance Levels: $0.45, $0.46, $0.47
Support levels: $0.43, $0.42, $0.41
The XRP price is another cryptocurrency that is range bound. It fluctuates between the levels of $0.51 and $0.43. The XRP price was $0.46 at the beginning of the month but fell to the low of $0.42. From the low of $0.42, it rose to the high of $0.51. This was the movement of price to form the levels of $0.51 and $0.43. Other characteristics of XRP price is that it has been at the bottom of the range bound zone for over a month. It appears the bears overpowered the bulls. It will require more buyers to push price upward.
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, the Relative Strength index period 14 is level 42 which indicates that price is in the sideways trend zone.
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