XRP Long-Term Price Analysis (cryptoglobe.com)
Here’s the best tl;dr summary we could make of the latest XRP long-term price analysis from cryptoglobe.com:
The bullish candlestick formed on January 30 can turn out to be a trap if the cryptocurrency’s range is breached southwards.
While the scenario plays out, traders will be building up around the $0.25 mark, at which point investors can enter the market.
XRP’s price this week has been ranging around the $0.30 mark.
Between January 27 and 29, the cryptocurrency’s price moved down to trade close to last year’s low, seen on December 15.
On January 30, the cryptocurrency moved up towards the 14-day SMA and at one point managed to surpass it to hit the 50-day SMA, which is found over the 14-day indicator, between the $0.35 and $0.30 marks.
The Stochastic Oscillators have slightly crossed between ranges 60 and 40 to point south.
Th bullish candlestick formed on January 30 can turn out to be a trap if the cryptocurrency’s range is breached southwards.
Original article reduced by: 38%
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Related story: Ethereum Long-Term Price Analysis (cryptoglobe.com)
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