Further Price Reduction Envisaged, There is a Bullish Signal for TAMA

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XRP under Sellers’ control

The breakup of the resistance level of $0.33 by the Bulls will make the coin rally towards $0.35 price level. In case the Bears break down the support level of $0.32, it may decrease XRP to $0.30 and $0.28 levels.

XRPUSD Price Analysis – September 01

Key Levels:

Supply levels: $0.33, $0.35, $0.36

Demand levels: $0.32, $0.30, $0.28

XRP/USD Price Medium-term Trend: Bearish

XRP/USD is bearish on the medium-term outlook. The bearish movement commenced when the coin reached the resistance level of $0.38. The Bulls’ momentum could not break up the just mentioned supply level of $0.38. The Bulls attempted to push up the price but it was resisted by the bears’ pressure. The coin commenced a bearish trend that reduces the price to support level of $0.33 which has extends to $0.32 support level.

XRP has crossed the two EMAs downside meaning that it is trading below the 9 periods EMA and 21 periods EMA. The price is moving farther from the EMAs which is an indication that bears are dominating the market. The Relative Strength Index period 14 is at 37 levels with the signal lines bending down which connotes sell signal. The breakup of the resistance level of $0.33 by the Bulls will make the coin rally towards $0.35 price level. In case the Bears break down the support level of $0.32, it may decrease the price to $0.30 and $0.28 levels.

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XRP/USD Price short-term Trend: Bearish, There is a Bullish Signal for TAMA

On the short-term outlook, XRPUSD is bearish. The Bears exerted more pressure to break down $0.36 level. The price declines to $0.33. The just mentioned level holds and ranging movement commenced within $0.33 and $0.35. Further pressure from the sellers reduces price to $0.32 level.

XRP price is trading around the 21 periods EMA and 9 periods EMA which indicates a ranging movement in XRP market. The relative Strength index period 14 is at 48 levels with the signal lines pointing up to indicate a buy signal.

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