Start of the new year was relatively flat for XRP. Charts are showing that there had been almost equal amounts of both selling and buying orders. The market was set for the downside, however, the coin managed to defend the price at levels around $0.33 and halt further drop to the downside. It might also be a signal that market participants think that the XRP has bottomed at $0.33. On the other hand, however, it must be taken into account that some investors are probably defending the price at this level, especially if we take into account that the market is quite shallow during this period of time.
The price of XRP was moving within a very short range, between levels of $0.33 up to $0.35, with XRP ending the week between these two levels. RSI is still on hold around level of the 44, indicating that investors are still not clearly deciding which side to take. Moving average of 50 days is moving away from its MA200 counterpart, after a clear cross, which occurred as of the end of December last year. However, the market prices are still not confirming the eventual change in trend for this coin.
Low trading volume will continue to shape the price of XRP to move in a relatively short range. In this sense, $0.33 might continue to hold, with lower probability for the $0.30 support line to be reached. On the opposite side, the short term resistance line at $0.35 might be tested again.
The price of XRP was moving within a very short range, between levels of $0.33 up to $0.35, with XRP ending the week between these two levels. RSI is still on hold around level of the 44, indicating that investors are still not clearly deciding which side to take. Moving average of 50 days is moving away from its MA200 counterpart, after a clear cross, which occurred as of the end of December last year. However, the market prices are still not confirming the eventual change in trend for this coin.
Low trading volume will continue to shape the price of XRP to move in a relatively short range. In this sense, $0.33 might continue to hold, with lower probability for the $0.30 support line to be reached. On the opposite side, the short term resistance line at $0.35 might be tested again.
