2018-12-10 10:57 |
Last week the XRP price was in a bearish trend. On December 7, the crypto's price fell to the low of $0.29 and commenced a range bound movement towards the EMAs but could not break the 12-day EMA and the 26-day EMA. On December 8, the crypto’s price was resisted and it fell to a range bound movement.
On December 9, the crypto’s price was resisted by the 26-day EMA and it fell to a downward trend. Meanwhile, the crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal line.
XRP/USD Short-term Trend: BearishOn the 1-hour chart, the price of XRP is in a bearish trend. On December 7, the crypto's price fell to the low of $0.29 and commenced a range bound movement. The crypto’s price was fluctuating above and below the EMAs but the price is below the EMAs.
Meanwhile, the stochastic indicator is above the 20% range. This implies that the XRP price has a bullish momentum and a buy signal. If the crypto’s price falls and finds support at the $0.24 price level, traders should initiate long trades in anticipation of a bullish trend
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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