- XRP price is trading sideways in the channel
- 1 Day MACD indicator is still bullish
- The important resistance level is $0.26500
1 Hour XRP/USD price chart
XRP price gained just over 1% against USD in the last 24 hours. Currently, the price is trading sideways in the channel between a lower low of $0.25650 and a higher high of $0.26700. If price continues trading within the current consolidation range, it is may to hit resistance level at around $0.26450 and support at $0.26000 before a breakout occurs. It is yet to be seen if the price can establish new resistance above $0.26500 without retracing back. It failed so far on previous occasions and thus the above-mentioned level of the resistance remains an important barrier for bulls.
Both 1 Hour and 1 Day MACD indicators are suggesting that XRP may be oversold at the moment, so there is a higher possibility of an uptrend rather than a substantial price fall.
Chart source: Tradingview
Disclaimer: Markets, instruments and advices 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