XRPUSD Long-term Trend – Ranging
- Distribution territories: $0.40, $0.45, $0.50
- Accumulation territories: $0.25, $0.20, $0.15
XRP’s price has been locked within a specific range for the past few weeks. The cryptocurrency has been hovering around the $0.3 mark for close to a month now. Its two SMAs are trading close to it as well.
The Stochastic Oscillators now at range 60 pointing north. This shows XRP is still consolidating, as the indicator shows the momentum that could back up a move up against the US dollar has been slowly fading away.
It’s necessary for XRP to see new lows for it to be able to see the bulls take over once again. Traders should consider their positions carefully and enter when the price shows some action.
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