- XRP price is up by 7%
- Several Stop Loss hunts occurred
- Looks to retest resistance
1 Hour XRP/USD price chart
XRP recovered from a recent price drop by gaining around 7% in the last 24 hours. The price first broke an important $0.30 resistance and then went as high as $0.31550. However, that move printed high tail candlestick on one hour chart with a price immediately retracing back below $0.31 price level, suggesting that it was a stop loss hunt above 31 cents price mark.
XRP/USD since then tapped into liquidity just below support hitting some long stop loss positions in the process. XRP price now seems to consolidate at $0.29500 zone with a possible retest of resistance looking more likely. MACD registering bullish crossover will be an important signal for the bulls in the short term.
Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
Credit: Source link