The coin is in a bearish trend but it is on a corrective movement, after breaking out from a price barrier level, the price had a pullback, but it will soon re-align with the major bearish trend.
Supply levels: $0.42, $0.47, $0.51
Demand levels: $0.39, $0.37, $0.30
XRPUSD Medium-term Trend: Bearish
XRPUSD Medium-term trend has been on a corrective market drive, the price pullback after confirming a bearish market direction. After, the correction the price might give in for the major market trend.
From the daily chart analysis, the price is below the 14 and 50 Exponential Moving Averages, still indicating a bearish market condition, the MACD Indicator signal lines and Histogram bars are showing a bearish trend.
XRPBTC Short-term Trend: Ranging
XRPBTC Short-term trend is ranging and currently sitting a major resistance level, the price took a bullish outlook yesterday but could not proceed further, rather it came back to re-test the major resistance level, and a break out of this level will push the market to a lower low target.
The 4-hour chart shows that the price is trending below the 14 and 50 Exponential Moving Averages, while the MACD Indicator is showing weak market indication.
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