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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
Yesterday, October 22, the XRP price was in a sideways trend. While in a bullish trend, the crypto’s price was sustained above the $0.46 price level. Later, price fell and it is fluctuating above the $0.45 price level. Today, the crypto's price is in a downward trend.
If price continues its downward trend the crypto price will revisit its previous lows of either $0.43 or $0.44. If it does, traders should look out for buy setups so as to initiate long trades. Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, the XRP price is in the bearish trend zone. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that price is falling. 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.