Join Our Telegram channel to stay up to date on breaking news coverage
Low Buyers’ and Sellers’ momentum in the Ripple market
In case the bulls’ momentum increases, Ripple may break up the resistance level of $0.39, in which it may extend to $0.43 and $0.45 resistance levels. When the Bears gain more momentum to push the price below the support level of $0.37, the price may decline to $0.31 and $0 .28 levels.
XRPUSD Price Analysis – 07 December
Key Levels:
Supply levels: $0.39, $0.43, $0.45
Demand levels: $0.37, $0.31, $0.28
XRP/USD Price Medium-term Trend: Ranging
On the medium-term outlook, XRP/USD is on the ranging movement. For many days since the beginning of November, the sellers have been dominating the XRP market. The double-top chart pattern formed triggered the bearish movement. The coin declined to the support level of $0.31 a few weeks ago when it broke down the former support level of $0.43 and $0.39. Bulls interrupted the bearish movement on 10 November and since then, the price has been ranging within the $0.37 and $0.39 levels.
The Relative Strength Index period 14 is at 44 levels with the signal lines displaying a bearish direction. The ripple market is trading below the 9-periods EMA and 21-periods EMA. In case the bulls’ momentum increases, Ripple may break up the resistance level of $0.39, in which it may extend to $0.43 and $0.45 resistance levels. When the Bears gain more momentum to push the price below the support level of $0.37, the price may decline to $0.31 and $0 .28 levels.
XRP/USD Price short-term Trend: Ranging
XRPUSD is ranging on the 4-hour time frame outlook. After the formation of the double-bottom chart pattern, the price increased to the resistance level of $0.40 and the bulls’ momentum seized. The ranging movement commenced when the sellers lose their momentum at the support level of $0.31. The price could not penetrate the mentioned level because of low bearish momentum. Likewise, the resistance level of $0.39 could not be broken because of low bullish momentum.
XRP price is hovering over the 21-period EMA and 9-periods EMA which indicates a low momentum in the Ripple market. The relative strength index period 14 is at 43 levels with the signal lines displaying a bullish direction. Riple market is currently experiencing a low bullish momentum, meanwhile, bullish momentum is very high in IMPT market.
When the presale has been concluded, Uniswap, LBank and Changelly Pro will list IMPT for trading. Those who invest in Impact Token (IMPT) will be able to claim them as from December 12, 2022. In order to do this, they will connect the wallets they used to buy the tokens initially, and the token will be dropped into their wallets. It is great to be green, and close to $14.5 million has already been raised for this environmentally friendly project.
Moreover, all traders and investors can conveniently stay in the loop with all the events affecting cryptocurrencies; thanks to our groundbreaking Dash 2 Trade platform. You will not miss any important events on the cryptocurrency market, because the platform helps you stay on top of your trading game. D2T presale dashboard is launching soon as the product dev is ahead of schedule. In the ongoing presale, almost $8.5 million has been raised.
Related
Dash 2 Trade – High Potential Presale
- Active Presale Live Now – dash2trade.com
- Native Token of Crypto Signals Ecosystem
- KYC Verified & Audited
Join Our Telegram channel to stay up to date on breaking news coverage
Credit: Source link
