Chart by TradingView
Key Support level: $0.70, $0.58
Key Resistance levels: $0.86
XRP’s price found good support at $0.70, where buyers managed to hold the selloff from the previous week. Since then, it has stayed above this level but failed to rally much higher, with the key resistance at $0.86 being well-defended by bears. For this reason, XRP continued to move sideways in a flat trend.
Trading Volume: The volume is decreasing, which is not encouraging in case XRP’s price wants to go higher. It shows weakness.
RSI: The daily RSI remains flat, around 50 points. During such moments, it is best to wait until a clear direction is confirmed.
MACD: The daily MACD is really close to making a bullish crossover, but the momentum is not there yet.
The current bias is neutral.
The consolidation continues, and XRP does not appear to have the volume needed to break away. The indicators are flat as well. Prolonged periods of consolidation tend to lead to serious breakouts, so it’s important to remain vigilant.
