Should the Bulls increase their momentum to break up $0.31 supply level and the bullish candle closes above it; then XRP will rally towards $0.32.supply level. If the Bears defend the supply level of $0.31, XRP price will resume its downtrend movement.
Key Highlights:
- There was XRP price break out at $0.31;
- the bears took over the XRP market;
- the coin is targeting $0.30 price level.
XRP/USD Price Medium-term Trend: Bearish
Supply levels: $0.31, $0.32, $0.33
Demand levels: $0.30, $0.28, $0.26
Currently, the coin is making an attempt to break up the dynamic resistance of the 21 periods EMA and 50 periods EMA. It is found in between the two EMAs indicating the gradual increase in the Bulls’ pressure. In addition, the Relative strength Index period 14 is at 50 levels with the signal line pointing up to indicate buy signal.
Should the Bulls increase their momentum to break up the $0.31 supply level and the bullish candle close above the level; then the coin will rally towards the supply level of $0.32. Alternatively, should the Bears defend the supply level of $0.31; XRP price will resume its downtrend movement.
XRP/USD Price Short-term Trend: Bullish
The coin has crossed upside the 21 periods EMA and 50 periods EMA and it is trading above the two EMAs as an indication of a bullish trend. The RSI period 14 is at 70 levels with the signal line pointing up to indicate further increase in XRP price.
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