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XRP/USD Medium-term Trend: Ranging
Resistance Levels: $ 0.61, $0.63, $ 0.65
Support Levels: $0.40, $0.38, $0.36
Last week the XRP price was in a bullish trend. On October 15, the crypto's price reached the high of $0.52 but pulled back to the low of $0.46. The bulls made two attempts at breaking the $0.50 price level but without success. The crypto’s price is now ranging at a price of $0.46.
The digital currency will continue its range bound movement as price and the 12-day EMA and the 26-day EMA are horizontally flat indicating a sideways trend. Nevertheless, the MACD line and the signal line are at par with the zero line which indicates a neutral signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, the XRP price is in a bearish trend. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.