XRP/USD Medium-term: Ranging
Resistances: $0.42, $0.43, $0.45
Supports: $0.40, $0.38, $0.36
On September 24, the XRP trend was bearish. This trend was a correction from previous day. The XRP’s price hits as high as $78 but is drawn back to the level of $56. A downtrend has been kept afterwards. The price is already ranging at around $0.45 levels. The formed range bound area, $0.30-$0.36, will be dropped by in case of an ongoing depreciation.
In the meantime, the XRP’s price is under the 12-day EMA and 26-day EMA, suggesting a bearish trend. Still, there is a sell signal indicated by the MACD line and the signal line being below zero. Even so, the bulls are taking charge within the overselling market as indicated by the Relative Strength Index period 14 being level 39.
XRP/USD Short-term: Bearish
According to the 1-hour chart, the XRP’s price stands bearish. The XRP’s price is under the 12-day EMA and 26-day EMA, suggesting a bearish trend.