XRP Price Analysis: XRP/USD is Consolidating at $0.39 Level, Awaiting a Breakout
When the demand level of $0.39 holds XRP price, it will bounce and move towards the previous high. Further increase in the Bears pressure may place the price at $0.35 in case the $0.39 level does not hold.
Key Highlights:
XRP/USD Price Medium-term Trend: Bullish
As at the moment, the price is moving sideways within the $0.42 and $0.39 levels.
XRP price has crossed the two EMAs downside meaning that it is trading below the 21 periods EMA and 50 periods EMA. The price is moving farther away from the EMAs which indicate high bearish momentum. The Stochastic Oscillator period 14 is below 20 levels with the signal lines pointing down to connotes further reduction in XRP price.
When the demand level of $0.39 holds the price, it will bounce and move towards the previous high. Further increase in the Bears pressure may place the price at $0.35 in case the $0.39 level does not hold.
XRP/USD Price Short-term Trend: Bearish
XRP price is trading below the 21 periods EMA and 50 periods EMA at a close range which indicates low momentum. However, Stochastic Oscillator period 14 is at 60 levels with the signal lines pointing up to indicate a buy signal.
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