Ripple: what about $0.4?
Slow motion moves continue for XRP, but with some positive indications based on technical analysis. Charts are starting to point toward the $0.4 resistance line, however, considering decreased daily trading volumes, it might take some time till XRP reaches this level in the coming period.
Previous week was positive for XRP, regardless of the coin`s slow moves. Coin started the week by testing the $0.3 support line, but without market strength to break it to the down side. Still, during each day in the week, buying orders were the dominant ones, so the coin slowly moved to the upside toward the resistance line at $0.35, where XRP is finishing this week. On a positive side is that RSI made its move above level of 50, reaching 55, indicating that the market might head soon toward the overbought side. This increases the probability for $0.4 to be the next target of XRP in the coming period. Moving averages of 50 and 200 days stopped their divergence, but they are currently moving as two parallel lines. There is still no indication that a potential cross might occur soon.
Current charts suggest increased probability for the $0.4 resistance line to be tested in the coming period. However, before that, XRP needs to find enough market strength to break the current resistance line at $0.35. On the opposite side, there is a probability for XRP to test the support line at $0.3 for one more time, while there is no indication that this line might be breached to the downside.
Previous week was positive for XRP, regardless of the coin`s slow moves. Coin started the week by testing the $0.3 support line, but without market strength to break it to the down side. Still, during each day in the week, buying orders were the dominant ones, so the coin slowly moved to the upside toward the resistance line at $0.35, where XRP is finishing this week. On a positive side is that RSI made its move above level of 50, reaching 55, indicating that the market might head soon toward the overbought side. This increases the probability for $0.4 to be the next target of XRP in the coming period. Moving averages of 50 and 200 days stopped their divergence, but they are currently moving as two parallel lines. There is still no indication that a potential cross might occur soon.
Current charts suggest increased probability for the $0.4 resistance line to be tested in the coming period. However, before that, XRP needs to find enough market strength to break the current resistance line at $0.35. On the opposite side, there is a probability for XRP to test the support line at $0.3 for one more time, while there is no indication that this line might be breached to the downside.
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