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Ripple (XRP) Price Analysis (February 11)

SourceBlog
#1
Key Highlights
  • XRP/USD pair has been trading around $0.28 price territory.
  • A prolong range of trade operations may be experienced around the $0.28 line.
  • The XRP/USD bulls may be taking time to surge northwards.
Major distribution territories: $0.30, $0.32, $0.34
Major accumulation territories: $0.24, $0.22, $0.20
Ripple (XRP) Price Analysis
The US dollar worth as paired with the XRP market price has now been trading around $0.28 mark. The crypto’s market valuation is still keeping its position over a $0.26 price line.
The XRP/USD market may still prolong its range trading mode around the $0.28 price territory until a while. Afterward, a bullish move is expected to take place as the $0.26 point currently seems to be a baseline for a subsequent upward price rises.
Ripple Technical Indicators Reading
There has now been a small location between the 14-day SMA and the 50-day SMA The two SMAs may soon join together if the bigger SMA isn’t broken downwards at a later time. The interception of the 50-day SMA by the 14-day SMA from the top may bring about bears’ trap in the XRP/USD market. The Stochastic Oscillators have briefly penetrated the oversold region. That indicates a slow-motion in the bears’ driving effort of this crypto trade.
Conclusion
As at the time of writing, the XRP/USD market has little more to lose to the bears. Better still, the bulls may be taking time to surge northwards. Meanwhile, a breakdown of the $0.26 mark could make the crypto’s price to average a lower point at $0.24 value.
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