XRP Long-term Price Analysis - December 30

CryptoGlobe
- Dec 30th 2:10 pm

XRPUSD Long-term Trend – Ranging

  • Distribution territories: $0.50, $0.55, $60
  • Accumulation territories: $0.25, $0.20, $0.15

XRP’s price has been moving between the $0.40 and $0.35 marks since December 25, after testing the $0.45 mark on December 24. The cryptocurrency has been trading around both of its SMAs, as they are located within its range’s borders.

XRP Chart by TradingView

XRP’s 14-day SMA is bent northwards below the 50-day SMA. This means the cryptocurrency is trying to move up against the US dollar. Its Stochastic Oscillators are closing in and appearing to either be starting a consolidation movement or starting to move north.

The $0.30 territory appears to be a strong support that could see XRP’s price move down to test the accumulation territory at $0.25 if broken, and that could help it surge if it manages to hold. A breakout above $0.40 may see XRP revisit its $0.45 high, and if sustained could see it reach $0.50.

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