XRP is already exposed to $0.42 level; further increase in the Bulls’ momentum may push XRP price to reach the target of $0.46. If the Bears manage to break down the demand level of $0.39, XRP price may descend to the previous low of $0.35.
Key Highlights:
- XRP price is ranging within descending triangle;
- the bearish breakout may drop the price at $0.35 level;
- the bullish breakout may place the price at $0.42 level.
XRP/USD Price Medium-term Trend: Ranging
Supply levels: $0.42, $0.46, $0.49
Demand levels: $0.39, $0.35, $0.29
XRP price equally breaks up the dynamic resistance level and moved up towards the $0.46 level. The bulls’ strength became weak and could not reach the $0.46 level. The Bears’ momentum was weak as well and the coin started consolidating at $0.39 level. XRP price formed descending triangle
The two EMAs are flat horizontally at $0.39 level and the two are close to each other with the coins hovering over the 21 periods EMA and 50 periods EMA which indicates that consolidation is ongoing. The Moving Average Convergence Divergence period 12 with its histogram is horizontally flat at zero levels and the signal lines close to each other and remain flat at the level which connotes that consolidation may continue for short time.
The coin is already exposed to $0.42 level; further increase in the Bulls’ momentum may push the coin to reach the target of $0.46 level. Should the Bears have enough pressure to break down the demand level of $0.39, XRP price may descend to the previous low level of $0.35.
XRP/USD Price Short-term Trend: Ranging
