XRP continues consolidation before future uptrend?
- Ripple’s XRP price today is consolidating between $0.26750 and $0.27375
- 24 hours price change – XRP/USD is up by around 0.50%
- XRP needs to pass the liquidity area between $0.278. and $0.285 for bulls to take control.
XRP has established new support at the level of previous resistance today which is $0.26750. Currently, trading volume is just below the Moving Average. Thus we do not expect any major increase or decrease in price at the moment unless a significant volume spike occurs.
If bulls to take control of the market, the first area of liquidity which is set between $0.278 and $0.285 will need to be passed first. Alternatively, if the price breaks the current support level it may go down as low as $0.2600 and establish new support at this level.
All main technical indicators including 4-hour Relative Strength Index (RSI), MACD and Exponential Moving Average are either neutral or slightly favoring the bulls at the moment.
Some candlesticks formations, including low tail candlestick that previously hit support level, may suggest mounting buyer pressure and possible attempt to begin an uptrend.
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