Strong pressure from the Bears will break down the $0.39 level and XRP price will target $0.35. Should the Bulls defend the $0.39 demand level and their momentum increase, the price may rally towards $0.42.
Key Highlights:
- The Bears Bears eventually prevailed in the XRP market;
- XRP price reached $0.35 level before pulled back;
- the price may continue its bearish trend after a pullback.
XRP/USD Price Medium-term Trend: Bearish
Supply levels: $0.39, $0.42, $0.46
Demand levels: $0.35, $0.32, $0.29
The coin is currently trading below the 21 periods EMA and 50 periods EMA. The former is making an attempt to cross the later to indicate a bearish trend. The Relative Strength Index period 14 is above 40 levels with the signal line pointing down to indicate sell signal. The XRP price may decline further to $0.32 demand level should the Bears exert more pressure on the crypto. In case the demand level of $0.35 holds the price, the Bulls may push the coin to reach the previous high at $0.42 level.
XRP/USD Price Short-term Trend: Bearish
The coin is in – between the 21 periods EMA and 50 periods EMAs. The Relative Strength Index period 14 is above 40 levels with the signal line pointing down to indicate a further reduction in price.
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