Ripple under seller’ control
An increase in the sellers’ pressure may leads to the breakdown of the support level of $0.43, which can make the Ripple move towards $0.39 and $0.30 price level. In case the Bulls break up the resistance level of $0.50, it may increase the price to $0.45 and $0.47 levels.
XRPUSD Price Analysis – September 29
Supply levels: $0.50, $0.45, $0.47
Demand levels: $0.43, $0.39, $0.30
XRP/USD Price Medium-term Trend: Bearish
XRP/USD is bearish on the medium-term outlook. The bullish movement which commenced when the coin reached the support level of $0.32 has been put on holds at $0.56 resistance. The Bulls’ momentum could not penetrate the just mentioned resistance level upside. The Bears push the Ripple down with the formation of bearish engulfing candles. The coin commenced a bearish trend that decreases the price to support level of $0.50 which has extend to $0.43 support level.
XRP is crossing the two EMAs downside meaning that, it is trading below the 9 periods EMA but above 21 periods EMA. The price is moving closer to the EMAs which is an indication that bears are dominating the market. The Relative Strength Index period 14 is at 57 levels with the signal lines bending down which connotes sell signal. An increase in the sellers’ pressure may leads to the breakdown of the support level of $0.43, which can make the coin move towards $0.39 and $0.30 price level. In case the Bulls break up the resistance level of $0.50, it may increase the price to $0.45 and $0.47 levels.
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XRP/USD Price short-term Trend: Bearish
On the short-term outlook, XRPUSD is bearish. The sellers interrupts the buyers at the resistance level of $0.50. The price consolidates for some time before sellers gain more pressure. Sellers exerted more pressure to break down $0.47 and $0.45 level. The price decreases to $0.43.
XRP price is trading below the 21 periods EMA and 9 periods EMA which indicates a bearish movement in Ripple market. The relative Strength index period 14 is at 43 levels with the signal lines pointing down to indicate a sell signal.
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