Ripple (XRP) Daily Price Forecast – August 1

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XRP/USD Medium-term Trend: Bearish

Resistance Levels: $0.44, $0.45, $ 0.46
Support Levels: $0.43, $0.42, $0.41

Yesterday, July 31, XRP price was in a bearish trend. The XRP price fell and broke the support level of the range bound zone and price pullback . The bears appear to have exhausted their bearish pressure as the indecision candlesticks appear. Meanwhile, the XRP price is likely to continue its sideways trend.

Nevertheless, from the MACD indicator, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. Also, the MACD line and the signal line are below the zero line which indicates a sell signal. Nevertheless, the relative strength index period 14 is level 27 which indicates that the market is oversold suggesting bulls to take control of the market.

XRP/USD Short-term Trend: Ranging

On the 1-hour chart, the XRP price is in a downward trend. The XRP price fell to the low of $0.42 and went into a sideways trend.The MACD line and the signal line are below the zero line which indicates a sell signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that bearish trend is ongoing.

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

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