Ripple Price Analysis – June 22

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Ripple Price Analysis – June 22

ripple-price-analysis-june-22

  • The MACD line and the signal line are below the zero line, indicating a sell signal.
  • The market is said to be oversold and traders should initiate buy setups to initiate long trades.

Source: CryptoCompare

XRPUSD Medium-term Trend: Bearish

Supply Levels: $0.52, $0.53, $ 0.54

Demand levels: $0.50, $0.49, $0.48

Yesterday, June 21, the Ripple price was in a range bound market. The cryptoasset closed trading at $0.53 on the second day. The weekly chart shows that the MACD line and the signal line are below the zero line, indicating a sell signal. Also, the Ripple price is below the 12-day EMA and the 26-day EMA, indicating that the bearish trend is ongoing.

The market is said to be oversold and traders should initiate buy setups so to initiate long trades.

XRPUSD Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chartSource:CryptoCompare

The daily chart shows Ripple in a bearish trend. The 20-day moving average and  the 50-day moving average are trending southward. The cryptoasset fell from $0.53 to $0.49. However, if the price falls, the demand levels would be breached. The relative strength index period 14 is level 44 which, indicating that the price is in a range-bound zone.

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