XRP Daily Price Forecast – August 6

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XRP/USD Medium-term Trend: Ranging

Resistance Levels: $0.44, $0.45, $ 0.46
Support Levels: $0.42, $0.41, $0.40

Last week the XRP price had been in a sideways trend fluctuating between the levels of $0.51 and $0.43. The cryptocurrency has been range bound at the bottom of the range bound zone in the last two weeks. The XRP price had broken the support level at $0.43 on three occasions and pulled back on each occassion into the range bound zone.

Today, the cryptocurrency is still in a sideways trend and would require more buyers to push price upward.However, the MACD line and the signal line are below the zero line which indicates a sell signal. In the same vein, the price bars of XRP is neither below nor above the 12-day EMA and the 26-day EMA which indicates that a sideways trend is continuing. Nevertheless, the relative strength index period 14 is level 43 which indicates that the price is in the sideways trend zone.

XRP/USD Short-term Trend: Bullish

On the 1-hour chart, the price of XRP has commenced a bullish trend. The XRP price is above the 12-day EMA and the 26-day EMA indicating that the cryptocurrency is rising. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.

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