Key Highlights
- As long as the bears are trapped within the major critical zone at $0.29, the demand will now keep getting higher than the supply for Ripple (XRP).
- The price has just presented a clean and clear buy signal for XRP/USD pair. The buyers are already crawling in into the market, and there is a high probability that the bulls may not rest until they push the price to their next desired major supply zone at $0.58.
XRPUSD Current Statistics
Market price: $0.32
Market Capitalization: $13,441,336,899
Trading Volume: $1,055,081,633
Major Supply zones: $0.42, $0.51, $0.60
Major demand zones: $0.25, $0.13, $0.09
Fresh Around Ripple
Latest Ripple news is, the blockchain firm released its Q2 report and per it, the company’s market share has gone down. However, the price of its native token, XRP, is up.
Ripple (XRP) Price Analysis
The sellers were able to drag the price back to the downside, for the retest of a major demand zone located at $0.29. However, this zone has been on the watch of the bulls for some past trading days since the region appeared to be the most significant area for the bears to overcome.
Currently, Ripple’s XRP is expected to be crawling towards the upside, as long as the significant demand zone mentioned above holds.
Chart Indicators Reading
All the market indicators are currently supporting the bulls since the price is already reacting to the demand zone at $0.29.
The buyers are presently taking advantage of the above mention zone, and it seems they have already hijacked the XRP/USD market from the sellers. It’s appeared that the bulls are dominating the system, and they will fight to take the price for the bullish swing to their desired take profit located at $0.58.
General Outlook for TRXUSD
Both the short and the long term outlook of XRP are bullish. Apart from the fact that the buyers are already stepped in this market, all the important market indicators and tools are also supporting that the price of Ripple (XRP) should go up. Therefore, it would be wise to follow the market direction and trend.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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