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XRP Long-term Price Analysis – April 7 Bullish

XRPUSD Long-term Trend – Bullish

  • On April 2, the cryptocurrency rose northwards, but after that has been seeing various ups and downs.
  • The bears could soon come back and push XRP’s price back down to $0.35, although that would require a strong bearish trend to break.
  • Distribution territories: $0.45, $0.50, $0.55
  • Accumulation territories: $0.25, $0.20, $0.15

A couple of days ago, the price of XRP greatly appreciated, along with the rest of the cryptocurrency market. On April 2, the cryptocurrency rose northwards, but after that has been seeing various ups and downs.

XRP Chart by TradingView

XRP’s great value increase saw it break through its 14-day SMA, which is located over its 50-day SMA. Both indicators are within the $0.30 and $0.35 marks, around which the price has been trading.

The Stochastic Oscillators are now between ranges 80 and 60. This means the cryptocurrency could soon start a new set of ranged movements. The bears could soon come back and push XRP’s price back down to $0.35, although that would require a strong bearish trend to break.

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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