XRP Price Analysis – June 10, 2019
The price of XRPUSD has continued to remain below the supply level of $0.48, since last week Friday, thus signaling a strong corrective market movement from the bullish trend that has kept the XRPUSD up for some months.
Supply levels: $0.48, $0.5, and $0.55
Demand levels: $0.345, $0.330, and $0.250
XRPUSD Trend: Bearish
Over the weekend, the market went down with a slow and steady momentum, factors like being in an overbought state were also considered, forcing the bears to take over the market, the Bollinger Bands top was touched, at the price of $0.48.
The MACD indicator was also signaling a bearish movement, also there was an arrow indication from the channel breakout indicator, pointing down for the support of a bearish movement. Currently, the 4-hour price is ranging within the price of 0.34. If it breaks that level, the market will accelerate further down the next resistant level.
XRPBTC Market analysis
XRPBTC has taken a bold bearish outlook since last week, though this might be seen as a temporary move by the bears. But going against this corrective movement might be a deadly decision. So the bears are winning now, as it can be seen from the above chart.
The market has hit a major resistance at the price of $0.000058, and the market has temporarily, respected this level, and is digging down to the price level of $0.00004950, which also formed resistance at the 4-hour chart.
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