2018-8-7 11:06 |
XRP/USD Medium-term Trend: Bearish
Resistance Levels: $0.40, $0.41, $ 0.42
Support Levels: $0.39, $0.38, $0.37
Yesterday, August 6th, the XRP price was in a bearish trend. The bearish trend resulted in compelling the XRP price to break out of the range-bound zone of $0.51 and $0.43. Today, XRP price has continued its downward fall. Price of the cryptocurrency has reached the low of $0.40 as at the time of writing.
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 a bearish trend is continuing. Nevertheless, the relative strength index period 26 which indicates that the market is oversold suggesting bulls to take control of the market.
XRP/USD Short-term Trend: BearishOn the 1-hour chart, the price of XRP price is in a bearish trend. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that price is falling. Also, the MACD line and the signal line are below the zero line which indicates a sell signal. If the XRP price continues its downward fall, the support level would be breached.
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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