XRP Price Analysis – August 28

• The XRP price may be confined to its range bound zone if the bulls fail to break the upper level.
• If the bulls break the upper level of the range bound zone the XRP price will reach the high of $ 0.45.

XRP Chart by Trading View

XRP Price Medium-term Trend: Ranging

Supply levels: $0.38, $0.40, $ 0.42                                    

Demand levels: $0.32, $0.30, $0.28

Yesterday, the XRPUSD pair was in a sideways trend. The cryptocurrency had not made any significant price movement since the price fell to the low of  $0.31. Today, the cryptocurrency is in a bullish trend and price is approaching the $0.35 price level. The price is approaching the upper level of the range bound zone which is the $0.36 price level.

Now if price breaks this upper level, XRP price will likely reach the previous high of $0.45. On the other hand, if the bulls fail to break the upper level, the cryptocurrency will fall and resume its range bound movement. However, the MACD line and the signal line are below the zero line which indicates a sell signal.

Similarly, the price of XRP is below the 12-day EMA and 26-day EMA  which indicates that a bearish trend is ongoing.

XRP Price Short-term Trend: Bullish

XRP Chart by Trading View

On the 4-hour chart, the XRP price is in a bullish trend. The XRP price is making a series of higher highs and higher lows. Meanwhile, the Relative Strength Index period 14 is level 66 which indicates that price is in the bullish trend zone.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.