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XRP/USD Medium-term Trend: Ranging
- Resistance Levels: $ 0.61, $0.63, $ 0.65
- Support Levels: $0.36, $0.34, $0.32
Yesterday, January 8, the XRP price was in a sideways trend. The XRP price moves in a confined range as the 12-day EMA and the 26-day EMA are horizontally flat. Yesterday, the bulls were resisted at the $0.38 price level and price pulled back to the low of $0.37. The crypto’s price fell to the support of the 12-day EMA.
Today, the bulls are making another attempt at the $0.38 resistance level. This has been the scenario as price moves at the levels of $0.33 and $0.38. Meanwhile, the stochastic indicator is out of the oversold region but above the 60% range indicating that XRP price is in a bullish momentum and a buy signal.
XRP/USD Short-term Trend: Ranging
On the 1-hour chart, the price of XRP is in a bullish trend zone. Yesterday, the crypto’s price was below the 12-day EMA and the 26-day EMA. Today, the crypto’s price is above the EMAs. The XRP price is currently fluctuating between the levels of $0.36 and $0.38.
Meanwhile, the stochastic indicator is out of the oversold region but above the 60% range indicating that XRP price is in a bullish momentum and a buy signal. The MACD line and the signal line are above the zero line which indicates a buy 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.
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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.