2019-1-23 10:15 |
Yesterday, January 22, the XRP price is in the bearish trend zone. The bulls defended the $0.32 price level as the bears failed to break the $0.32 price level. The crypto’s price is still in the bearish trend zone, as the bulls are making frantic efforts to break the 12-day EMA and the 26-day EMA to the bullish trend zone.
As it was earlier suggested, that traders should initiate long trades at the lower price level in anticipation of a bullish trend. Today, the crypto’s price is rising and attempting to break the 26-day EMA. Meanwhile, the MACD line and signal line are below the zero line which indicates a sell signal.
XRP/USD Short-term Trend: BullishOn the 1-hour chart, the XRP price is in a bullish trend zone. Today, a price reversal candlestick like a hammer appears at the support level reversing the downtrend. The bulls have broken the 12-day EMA and the 26-day EMA to reach the bullish trend zone. The crypto’s price is expected to reach the $0.34 price level and break it.
If the bulls break the $0.34 price level, the crypto will be out of the $0.32 and $0.34 price range. Meanwhile, the stochastic is out of the overbought region but below the 60% range indicating that the crypto is in a bearish momentum and 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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