Ripple Price Analysis – June 28
XRPUSD Medium-term Trend: Bearish
Supply Levels: $0.46, $0.47, $ 0.48
Demand levels: $0.44, $0.43, $0.42
Yesterday, June 27, the XRPUSD pair was in a bearish trend. The price of Ripple’s XRP is said to be fluctuating between the resistance level at $0.50 and the support level at $0.44. The cryptoasset found itself in this range when it fell to a low of $0.44 and made a run to the resistance level at $0.50. Traders can trade the ranging market when the cryptoasset breaks out of the range bound zone.
For instance, if the price tests the resistance level, traders can take a short trade and place a stop loss above it. Then exit their trades near the support zone. If it tests the support level they can take a long trade, and place a stop loss below the support level. Exiting the trade near the resistance zone is advised.
Meanwhile, the MACD and signal lines are below the zero line which indicates a sell signal. Also, the 12-day EMA and the 26-day EMA are above the price bars of Ripple which indicates that a bearish trend is ongoing.
XRPUSD Short-term Trend: Ranging
On the daily chart, the price of Ripple’s XRP is in a range bound movement. The price rose from about $0.45 to a high of $0.47. Later, it came down to a low of $ 0.46. Meanwhile, the relative strength index period 14 is at 55 which indicates that price is in a range bound zone.
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