Ripple Price Analysis – June 29
XRPUSD Medium-term Trend: Bearish
Supply Levels: $0.46, $0.47, $ 0.48
Demand levels: $0.44, $0.43, $0.42
Yesterday, June 28, Ripple was in a bearish trend. The cryptoasset was range bound between the levels of $0.50 and $0.44. Today, Ripple’s price has fallen to a previous low at $0.43. The assumption is that if its price breaks the support level at $0.44, it will find support at $0.24. Meanwhile, the MACD and signal lines are below the zero line which indicates a sell signal.
The 12-day EMA and the 26-day EMA are above the price of Ripple which indicates that the bearish trend is continuing.
XRPUSD Short-term Trend: Bearish
On the 4-hour chart, the price of Ripple is in a smooth downtrend. It is making a series of lower highs and lower lows. The 12-day EMA is below the 26-day EMA and trending southward. Meanwhile, the relative strength index period 14 is at 30 which indicates that the market is oversold, suggesting the bulls may take control.
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