- XRP price trades in a horizontal channel
- The resistance is $0.26150
- MACD just registered bullish crossover
1 Hour XRP/USD price chart
XRP price formed a horizontal trading channel and is at the moment trading sideways. There was a stop loss hunt for long positions yesterday when price moved down as low as $0.22500. Considering the fact that MACD indicated a bullish crossover on a 1-hour trading chart there is a good chance that price will now test resistance at $0.2500 or even $0.2600.
In case of an increase of trading volumes and price movement up on high momentum, XRP can set a new resistance above current levels otherwise, expect price retracement back into consolidation area with future tests of support lines as part of the current stop-loss hunt.
Chart source: Tradingview
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. Ripplecoinnews does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Investing in Cryptocurrencies involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses, and costs associated with investing, including total loss of principal, are your responsibility.
Credit: Source link