The crypto took a bearish dimension two weeks ago, but the market is now losing momentum as it heads to a resistance level, the main issue is can the coin succeed in breaking that level?
Supply levels: $0.42, $0.47, $0.51
Demand levels: $0.39, $0.37, $0.35
XRPUSD Medium-term Trend: Ranging
XRPUSD medium-term trend has been on the ranging side. The market slowness manifested as the price approaches a price resistance level. If the price breaks the resistant price level, then the market will accelerate to down to the next barrier level or will further below.
The daily chart indicates that the 14 and 50 Exponential Moving Averages are about to cross for bearish market signal and the MACD Indicator signal lines and Histogram bars are indicating a bearish trend direction.
XRPBTC Short-term Trend: Bearish
XRPBTC Short-term trend is on a bearish market trend, and it looks good to head to the next barrier level, seeking to establish a new lower low level.
The 4-hour chart is showing that the 14 and 50 Exponential Moving Averages is exhibiting a strong bearish market condition, also the MACD Indicator signal lines and Histogram bars, are all signaling or advocating for a bearish market direction.
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