XRPUSD Medium-term Trend: Ranging
Supply Levels: $0.54, $0.55, $ 0.56
Demand levels: $0.52, $0.49, $0.48
Yesterday, June 20, the Ripple price was in a range-bound market. The price made four attempts to break the resistance level at $0.55 but without success. Since the price is attempting to break the critical levels of the market, you can adapt to trade the cryptoasset with a range-bound market strategy.
One could simply take a short trade at the resistance level and exit near the support zone. On the other hand, you could take a long trade at the suppor tlevel and exit near the resistance zone. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
In addition, the 12-day EMA and the 26-day EMA are above the price of the cryptoasset which indicates that the bearish trend is ongoing, although the signals are not boldly visible.
XRPUSD Short-term Trend: Ranging
The 1-hour chart shows Ripple in a range-bound movement. The cryptoasset ranges at $0.54 and falls to $ 0.53. The 20-day moving average and 50-day moving average are trending along the price level of the cryptoasset. Meanwhile, the relative strength index period 14 is level 44 indicating that the price is in the range-bound zone.
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