Further increase in Bears’ pressure will return the coin back to its previous low at $0.31 price level. In case the demand level of $0.32 holds, the Bulls will push up the XRP price and target the supply level of $0.35.
Key Highlights:
- The Bears momentum prevailed in the XRP market;
- the Bears’ pressure may return the XRP price back to the previous low;
- the supply level of $0.35 may be reached in a case $0.32 level holds.
XRP/USD Price Medium-term Trend: Bearish
Supply levels: $0.33, $0.35, $0.36
Demand levels: $0.32, $0.31, $0.30
A strong bearish candle that formed at the opening of the market today has penetrated the 21 periods EMA and 50 periods EMA; the coin is currently trading below the two EMAs. The Stochastic Oscillator period 14 is at 50 levels and its signal lines pointing down to indicate sell signal.
Further increase in Bears’ pressure will return the coin back to its previous low at $0.31 price level. In case the demand level of $0.32 holds, the Bulls will push up the XRP price and target the supply level of $0.35.
XRP/USD Price Short-term Trend: Bearish
At the moment, the coin is trading below the 21 periods EMA and 50 periods EMAs. The former is trying to cross the later to indicate bearish momentum. Meanwhile, the Stochastic Oscillator period 14 is at 40 levels with the signal lines bending down to indicate sell signal.
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