XRP Price Analysis – September 4

• The XRP price will suffer 92.7% depreciation if price falls to its previous low of $ 0.24.
• The XRP price has no significant price movement as the market seems to be quiet.

XRP Chart by Trading View

XRPUSD Medium-term Trend: Ranging

Supply levels: $0.35, $0.37, $ 0.39                                    

Demand levels: $0.32, $0.30, $0.28

The XRPUSD price is range-bound but presently in a downward trend. The XRP price has no significant price movement. If the downward trend continues, the price might find its low at $0.24. If the XRP price was valued at $3.29 from inception, then the XRP price would have depreciated by 92.7%.

Today, the XRP price is fluctuating between the levels of $0.36 and $0.30. If the downward trend results in breaking the lower level of the price range, the price will find its previous low. On the other hand, it may bounced back to continue its range-bound movement.In addition, the MACD line and the signal line are bearish because they are below the zero line. 

Also, the XRP price is neither below nor above the 12-day EMA and the 26-day EMA which indicates that the XRP price is in a sideways trend.

XRPUSD Short-term Trend: Bearish 

XRP Chart by Trading View        

On the 4-hour chart, the XRP price is in a downward trend. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that the price is falling. Nevertheless, the Relative Strength Index period 14 is level 44 which indicates that the price is in the sideways 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.