Ripple (XRP) Daily Price Forecast – August 2




XRP/USD Medium-term Trend: Ranging

Resistance Levels: $0.44, $0.45, $ 0.46
Support Levels: $0.43, $0.42, $0.41

Yesterday, August 1, XRP price was in a bearish trend. Yesterday, the price of the cryptocurrency broke the lower level at $0.43 to the low of $0.42 and pullback to the range bound zone. The XRP price is currently trading at $0.44 inside the range bound zone of $0.51 and $0.43. The XRP price at $0.44 had been relatively stable for over ten days. It is likely to continue with its range bound movement.

Nevertheless, the XRP price is neither below nor above the 12-day EMA and the 26-day EMA which indicates that it is in a sideways trend. Also, the MACD line and the signal line are below the zero line which indicates a sell signal. Nevertheless, the relative strength index period 14 is level 48 which indicates that price is in a sideways trend zone.

XRP/USD Short-term Trend: Ranging

On the 1-hour chart, the XRP price is in a downward trend. The XRP price pullback to the high of $0.45 as per the bullish candlestick. Then went back to a sideways trend. The MACD line and the signal line are above the zero line which indicates a buy signal.

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

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