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Ripple XRP Price Analysis: 10 June, Ripple News

Ripple Price Analysis: The prices of the cryptocurrency are traded below the moving average for 50 days, which indicates a downward trend in the XRP.
Ripple Price Analysis: The prices of the cryptocurrency are traded below the moving average for 50 days, which indicates a downward trend in the XRP.

Ripple XRP to USD Dominant Trend: Bearish

Resistance Level: $0.47, $0.57, $0.67

Support Level: $0.32, 0.22, $0.12

 

 

Looking at the 4-Hour chart, the XRP/USD is trading at $0.38. The prices of the cryptocurrency are traded below the moving average for 50 days, which indicates a downward trend in the XRP. For the time being, the crypto-currency quotes are moving towards the lower edge of the Bollinger Band indicator. In addition, we expect an attempt to continue the increase in XRP/USD and the development of the uptrend. The purpose of this movement is to provide near the resistance level of $0.47. The cautious bid level for XRP purchases is close to the lower limit of the Bollinger Band indicator, at the $0.47 level. Any attempt by the buyers to cancel the option to continue reducing the XRP rate would be equivalent to separating the request from the lower edge of the Bollinger band indicator.

 

However, after exceeding the lower edge of the Bollinger Band indicator, this will also affect the moving average with a period of 50 days and the closing of the coin price below the support level of $0.32. This will indicate a change in the current downward trend of XRP/USD. If the upper limit of the Bollinger Bands indicator is broken, an acceleration of the cryptocurrency increase is expected, which implies a resistance level of $0.47 or more. The area reserved for the purchase of XRP is available at a price of $0.67. By canceling the increase option, the cryptocurrency will be a decomposition of the support level of $0.12. In this case, we can expect more falls as the MACD continues to give a strong sell signal.

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Written by Azeez Mustapha

Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

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