Ripple's XRP Price Analysis: Long Term Bearish Trend

2018/12/15/ 09:21

XRP /USD Price Long-term Trend: Bearish

Supply levels: $0.56, $0.58, $ 0.60
Demand levels: $0.25, $0.23, $0.21

The price of XRP had been in a bearish trend since April 2018. The price of XRP has fallen to the low of $0.29 as at the time of writing. The crypto’s price is below the exponential moving averages meaning that price is likely to fall. However, the stochastic bands are pointing downward above the 20% range which indicates that the cryptocurrency is likely to continue its fall. The crypto’s price is expected at the previous low of $0.24.

We shall initiate long trades as soon as the bears have exhausted their bearish pressure. Meanwhile, the price of XRP is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.

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

Article Source: Bitcoinexchangeguide
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