Ripple (XRP) Daily Price Forecast – July 4

XRP/USD Medium-term Trend: Bullish

Resistance Levels : $0.49 , $0.50, $ 0.51
Support Levels: $0.47, $0.46, $0.45

Yesterday, July 3, the Ripple cryptoasset was in a bullish trend. Today, the price of cryptoasset has retraced and it is testing the bullish trend line. The understanding was that in a bullish trend if price retraced from the recent high and tested the trend line, a long trade should be initiated.

Today, a bearish candlestick is testing the trend line but we have to allow it to close. We can only initiate a long trade at the appearance of a bullish candlestick near the trend line.Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

Also, the price bars of Litecoin is above 12-day EMA and the 26-day EMA which indicates that the bullish trend is continuing. Nevertheless, the relative strength index period 14 is level 50 which indicates that price of Litecoin is in the sideways trend zone.

XRP/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Ripple is in a bearish trend. The MACD line and the signal line are below the zero line which indicates a sell signal. In the lower time frame,the RSI period 14 is level 37 which indicates that the market is oversold suggesting bulls to take control of the market.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.