XRP/USD Medium-term Trend: Bearish
Resistance Levels: $0.28, $0.29, $ 0.30
Support Levels: $0.23, $0.22, $0.21
Yesterday, August 13th, XRP price was in a sideways trend. Price has already fallen to the low of $0.28 but it fell again to $0.27. Today, XRP price is still in a downward trend. The cryptocurrency is likely to fall to the next support level at $0.20. We will recommend long trades at the end of the bearish pressure.
Nevertheless, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. Also, the MACD line and the signal line are below the zero line which indicates a sell signal. Nevertheless, the Relative Strength Index period 14 is level 20 which indicates that the market is oversold suggesting bulls to take control of price.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, the XRP price is in a bearish trend. The XRP price fell to the low of $0.25 and price retraced to the high of $0.26. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing.
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