XRP/USD Medium-term Trend: Bearish
Resistance Levels: $0.54 , $0.53, $ 0.52
Support Levels: $0.52, $0.51, $0.50
Yesterday, June 12, the asset was in a sideways trend fluctuating from the low of $0.57 to the high of $0.59. In the previous day, the MACD line and the signal line indicated a sell signal and that the bearish trend was ongoing. However, from the 4-hour chart, price of Ripple has fallen to the low of $0.54 and at the same time approaching the low of April 2018.
Meanwhile, the MACD line and the signal line are below the zero line indicating a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price of Ripple indicating that the downtrend will continue. Nevertheless, the relative strength index period 14 is level 29 indicates that the market is oversold suggesting bulls to take control of the market. It will be a good thing if traders will begin by looking for buy setups at the support level.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, price of Ripple is in a bearish trend. From the chart, the MACD line and the signal line are below the zero line indicating a sell signal. Also, the exponential moving averages are above the price bars of the asset indicating that the bearish trend was ongoing.
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