- XRP Continues Trading Sideways
- XRP will retest the $0.27650 Resistance
The price of XRP has reportedly remained in the horizontal zone. The coin has had an uneven year having struggled to find the adequate amount of momentum to stay upwards. There is liquidity below the support positions for XRP. There is also a chance of an uptrend commencing in the coming weeks. A critical analysis of the chats show that the price of XRP is trading in the horizontal zone.
XRP (XRP) Price Today – XRP / USD
# Name Price 24H % 3 $0.221
The coin is within the consolidation. It appears that the price of Ripple’s XRP might have managed to establish a new low point at $0.270 in the last 24 hours. The hourly chart shows that they were a few bullish signals already including the MACD crossing over into the “green” zone. We can also see that the low tail candlestick has printed six times the 20-hour average volume.
XRP will retest the $0.27650 Resistance
There is a strong possibility that the price of XRP will attempt to retest the $0.27650 resistance area. However, this move might not happen until the price of the digital asset dips into liquidity and under the support area trapping some of the stop-loss orders along the way. In the last few hours, we saw an increase in XRP sales below the $0.2840 area which is a resistance point.
The XRP/USD pair is mostly followed a bearish pathway under $0.2800 and the 100 hour SMA. Moreover, the price of XRP moved under the last low before trading at a new weekly low at $0.2682. Currently, it is safe to say the price of XRP is correcting higher above the $0.2720 region. Moreover, XRP had a break over the 23.6% Fib retracement position via the last decline from $0.2852 to $0.2682.
However, there are many resistance points for Ripple’s XRP on the upside at the $0.2765 and $0.2780 positions. The 50% Fib retracement region via the recent drop from $0.2852 to $0.2682 is near $0.2765. Therefore, if there is a clear break above the $0.2800 trend line, and the 100 hour SMA, we could expect a decent price increase for XRP. The next resistance position is near $0.2840, above this area is chances of more upsides to the $0.3000 resistance position.
The chances of the price of XRP initiating a decent increase and the coin’s ability to maintain that status for an extended period remains to be seen. This is because crypto price prediction is purely speculative and could take any shape in the end.