XRP Price Downturns Valuation – August 18
The Ripple XRP/USD trade slightly downsizes valuation after a line of variant price upsurges in the recent past sessions. Despite the slight downsize, the crypto’s percentage rate of trading records a positive figure to the tune at 2.26.
Price Downturns Valuation: XRP Market
Key Levels:
Resistance levels: $1.30, $1.50, $1.70
Support levels: $1, $0.90, $0.80
The XRP/USD daily chart shows that the crypto trade slightly downsizes valuation while trying to average a higher line at $1.40 during the 15th-day session. The crypto now trades around the level of $1.12, with a bullish candlestick seemingly in the makings. The bullish trend-line drew in an extension moving mood to touch the support at $1.00. The 14-day SMA indicator remains crossed northward against the 50-day SMA indicator, pointing to the upside below the current higher trading zone. The Stochastic Oscillators have crossed southbound from the overbought region, slightly touching the range of 40. It still indicates that some amounts of downs may play out.
Could there be more paths to the downside as the XRP/USD trade slightly downsizes valuation?
There could be lighter paths to the downside of the crypto economy as the trade slightly downsizes valuation. The downward forces may not carry high volatilities while pushing southward to find support around a lower trading line. The points between $1 and $1.20 may have to be put into consideration by the XRP/USD market bulls to reposition for their entries.
On the downside, the XRP/USD market bears appear to have gotten trading zones between $1.20 and $1.40 around where their re-entrance into the trading activities. About three days’ sessions, the downward force has taken place as the price has to breach the main support line at $1 to re-affirm a bearish trend. Failure to have that sentiment played out, upward motion bounds to regain the momentum in no time.
In comparison, the base crypto’s trending power is at a higher trading zone as paired with the counter cryptos. It is also the XRP/BTC price analysis chart that the crypto trade slightly downsizes valuation. The 14-day SMA trend-line now attempts to cross the 50-day SMA trend-line to the north side. The Stochastic Oscillators have briefly crossed the lines southbound from the overbought region. That denotes that the Ripple XRP may be facing a downward movement trending with Bitcoin in the near time.
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