XRP Price Analysis: XRP/USD Ranging Within $0.42-$0.46 Level, Expecting a Breakout
There is a tendency for XRP price to increase towards $0.49 supply level provided the Bulls gain enough momentum to break up the $0.46 supply level. In case the Bears continue to defend the $0.46 level consolidation may continue.
Key Highlights:
XRP/USD Price Medium-term Trend: Ranging
The 21 periods EMA and 50 periods EMA are flat horizontally at $0.42 area and the coin is trading over and around the two EMAs. Nevertheless, the Stochastic Oscillator period 14 is at 60 levels with the signal lines pointing up which indicate buy signal.
There is a tendency for XRP price to increase towards $0.49 supply level provided the Bulls gain enough momentum to break up the $0.46 supply level. On the other hand, in case the Bears continue to defend the $0.46 level consolidation may continue.
XRP/USD Price Short-term Trend: Ranging
The crypto is hovering over the 21 periods EMA and 50 periods EMA and the two EMAs are interlocked to each other which indicate that consolidation is ongoing in the XRP market.
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