Ripple: $0.4 so close, and yet, far away
Step by step, week by week and XRP will reach a $0.4 resistance line. For the last two months, XRP is side traded, but with slow and gradual steps toward the next resistance line. During the previous week the coin was moving in a range from $0.34 up to $0.38, still unable to clearly reach the next resistance line, let alone to test it. But whoever follows this coin for a longer period of time, knows that XRP has its moments.
Regardless of tiny moves, RSI went to the level of 61 and modestly returned back to the 50 as of the weekend. This indicates that there is potential for further price moves to the upside, until a clear overbought market is reached. Moving average of 50 days has slowed down its divergence from MA200 counterpart, but clear convergence has not yet started.
For the second week in a row, charts are indicating potential for a $0.4 resistance line to be tested. However, decreased trading volumes and market hesitance for higher price moves, are still holding XRP`s price below this level. On the opposite side, XRP is ending the week testing support line at $0.35, while charts are suggesting some probability for $0.30 to be tested one more time in the coming period.
Regardless of tiny moves, RSI went to the level of 61 and modestly returned back to the 50 as of the weekend. This indicates that there is potential for further price moves to the upside, until a clear overbought market is reached. Moving average of 50 days has slowed down its divergence from MA200 counterpart, but clear convergence has not yet started.
For the second week in a row, charts are indicating potential for a $0.4 resistance line to be tested. However, decreased trading volumes and market hesitance for higher price moves, are still holding XRP`s price below this level. On the opposite side, XRP is ending the week testing support line at $0.35, while charts are suggesting some probability for $0.30 to be tested one more time in the coming period.
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