XRP Long-term Price Analysis – – February 24

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  • There may still be room for a reversal around the $0.45 and $0.40 distribution territories
  • This, if we see an aggressive breakout over the upper limits of XRP’s range.

XRPUSD Long-term Trend – Ranging

  • Distribution territories: $0.40, $0.45, $0.50
  • Accumulation territories: $0.20, $0.15, $0.10

XRP’s price has seen a serious of lower highs since February 18. Between January 28 and February 17, the cryptocurrency was trading close to the $0.3 mark. On February 19, it started hovering over its 50-day SMA, between the $0.35 and $0.30 lines.

Ripple, XRPUSD, Cryptocompare chartXRP Chart by TradingView

The 14-day SMA has moved closer to the 50-day SMA.  The Stochastic Oscillators crossed range 60 and are currently pointing north. It seems the bears are getting weaker, against the bulls’ strengthening force. There may still be room for a reversal around the $0.45 and $0.40 distribution territories, if we see an aggressive breakout over the upper limits of XRP’s range.

Currently, it could be a good move for some investors to enter the market.

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

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