Daily forecast of XRP prices – 7 August

XRP / USD Medium-term trend: Bearish

Resistance levels: $ 0.40 , $ 0.41, $ 0.42
Support Levels: $ 0.39, $ 0.38, $ 0.37

Yesterday, August 6, the XRP price was in a bearish trend. The downward trend led to the imposition of the XRP price to exit the limit zone by $ 0.51 and $ 0.43. Today, the XRP price has continued to fall. The price of cryptocurrency has reached the minimum of $ 0.40 at the time of writing.

However, the MACD line and the signal line are below the zero line indicating a sales signal. Likewise, the XRP price is lower than the 12-day EMA and the 26-day EMA which indicates that the downward trend continues. However, the period relative to the relative strength index 26 indicates that the market is oversold which suggests that the bulls take control of the market.

XRP / USD Short-Term Trend: Bearish

In 1 hour chart, the price of the XRP price is in a downtrend. The XRP price is lower than the 12-day EMA and the 26-day EMA which indicates that the price is falling. Furthermore, the MACD line and the signal line are below the zero line indicating a sales signal. If the price of XRP continues to fall, the level of support would be exceeded.

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