Should the Bears defend the $0.30 level, further declination of the XRP price is expected and this may lead to the breakdown of the $0.28 level. In case the Bulls defend the demand level of $0.28, the price may reverse and rise towards the previous high.
Key Highlights:
- XRP price may reverse at $0.28 level;
- the XRP price may rise towards $0.31 level;
- the Bulls are currently opposing the decrease in the price of XRP.
XRP/USD Price Medium-term Trend: Bearish
Supply levels: $0.30, $0.31, $0.33, $0.34
Demand levels: $0.28, $0.27, $0.26
The Bears hold to the XRP market by trading the coin below the 21 periods EMA and 50 periods EMA in which the distance between the two EMAs is increasing; this is a sign of an increase in the Bears’ pressure. The Moving Average Convergence and Divergence period 12 with its histogram are below zero levels and the signal lines making attempt bending up to indicate buy signal and the XRP price may reverse.
Should the Bears defend the $0.30 level, further declination of the XRP price is expected and this may lead to the breakdown of the $0.28 level. In case the Bulls defend the demand level of $0.28, the price may reverse and rise towards the previous high.
XRP/USD Price Short-term Trend: Bearish
XRP is trading below the two EMAs. The 21 periods EMA and 50 periods EMAs are well separated from each other bending down to indicate strong sell signal.