Ripple (XRP/USD) May Be on The Verge of a Downtrend

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There has been quite a struggle between the bulls and the bears as the XRP/USD could not break the $0.38118 resistance level. The market seems to be held up at around that resistance level for the past few days.


What the indicators are saying
Moving Average convergence and divergence indicator shows that the bears may have taken over from the bulls as the histogram appears to have crossed slightly over to the negative side. The histogram read a slight difference of -0.00017 (that is on the negative side). The two lines of the indicator, the MACD line, and the signal line have come to merge making it very difficult to observe the difference between line proximity except by the readings on the chart. Relative Strength Index measures market strength at 56.3%. By the RSI reading (at 56.3%) the market trend is in-between the strong and the weak RSI market reading. However, Ripple can still be considered to be in a weak uptrend, with a 0.13% difference between the Relative Strength Index line and the signal line.

Price Forecast for Ripple
Judging from the close tie between the signal lines and the indicator lines of both the MACD and RSI, the chances that price action will range around $0.38118 is high. Or the price may begin to trend downwards.

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