XRP price will rally towards $0.32 resistance level in case the bullish momentum breakup the resistance level of $0.31 and the bullish candle closes above the level, otherwise, the coin will return to its previous low in case $0.31 supply level holds.
Key Highlights:
- Sideways movement confirmed in the XRP market;
- the bears took over the XRP market;
- the coin may target $0.32 price level.
XRP/USD Price Medium-term Trend: Ranging
Supply levels: $0.31, $0.32, $0.33
Demand levels: $0.30, $0.28, $0.26
The two EMAs are coming closer to each other and the coin is trading on and in-between the 21 periods EMA and 50 periods EMA which connotes that consolidation is ongoing in the XRP market. The Stochastic Oscillator period 14 is close to 80 levels with the signal lines twisting to each other also confirm the sideways movement which may continue for a while.
XRP price will rally towards $0.32 resistance level in case the bullish momentum breakup the resistance level of $0.31 and the bullish candle closes above the level, otherwise, the coin will return to its previous low in case $0.31 supply level holds.
XRP/USD Price Short-term Trend: Ranging
The coin is hovering over the 21 periods EMA and 50 periods EMA. The two EMA are flat horizontally in the XRP market on the 1-hour chart. However, the Stochastic Oscillator is at 60 levels with the signal lines bending down which connotes sell signal.
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