XRP significantly slowed down volatility during the previous week. Market was side trading this coin. Considering general negative market sentiment, side trading sometimes might be a good thing. It suggests that the $0.3 support line is the current bottom for this coin and there is no strength to move the coin further to the downside. Highest level reached during the week was $0.36; however, the $0.4 resistance line has not been clearly tested.
Moving average of 50 days is currently slowing down its divergence from its MA200 counterpart. This indicates a potential that two lines might start the convergence road and potential cross in the future, but it is still early to confirm such an action, especially, taking into account current fragility of the crypto market. Two weeks ago RSI made a strong move toward the level of 50, however, during the previous week the indicator returned to the level of 37. Oversold market has not been reached.
As per current charts, XRP will start week ahead by testing the support line at $0.30. In case that there are no selling orders in place, which might push the price down to the next support line at $0.25, the coin will revert to the upside in order to test the resistance line at $0.40. Currently there is no indication that this line might be breached to the upside.
Moving average of 50 days is currently slowing down its divergence from its MA200 counterpart. This indicates a potential that two lines might start the convergence road and potential cross in the future, but it is still early to confirm such an action, especially, taking into account current fragility of the crypto market. Two weeks ago RSI made a strong move toward the level of 50, however, during the previous week the indicator returned to the level of 37. Oversold market has not been reached.
As per current charts, XRP will start week ahead by testing the support line at $0.30. In case that there are no selling orders in place, which might push the price down to the next support line at $0.25, the coin will revert to the upside in order to test the resistance line at $0.40. Currently there is no indication that this line might be breached to the upside.
