XRP/USD Medium-term Trend: Ranging
Resistance Levels : $0.48 , $0.49, $ 0.50
Support Levels: $0.46, $0.45, $0.44
Last week, the price of Ripple was in a sideways trend. Price of the cryptocurrency is fluctuating between the resistance level at $0.52 and the support level at $0.44. If price gets to the resistance level, you initiate a short trade and place a stop loss above the resistance level. Then you exit your short trades near the support zone. Similarly, if price tests the support level, you should take a long trade.
Then you place a stop loss below the support level. And you exit your long trades at the resistance zone. Nevertheless, the MACD line and the signal line are neither above nor below the zero line which indicates a neutral signal. Also, the price bars of Ripple is neither above nor below the 12-day EMA and the 26-day EMA which indicates that price is in a sideways trend. Nevertheless, the relative strength index period 14 is level 47 which indicates that price of Ripple is in the sideways trend zone.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Ripple is in a bearish trend. The MACD line and the signal line are below the zero line which indicates a sell signal. In the shorter term trend, the 12-day EMA and the 26-day EMA is above the price bars of Ripple which indicates that the bearish trend is ongoing.
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