Tuesday , March 19 2024
Home / Crypto news / Ripple Price Analysis: XRP Stuck in Consolidation, Big Move Coming Soon?

Ripple Price Analysis: XRP Stuck in Consolidation, Big Move Coming Soon?

Summary:
Key Support levels: %excerpt%.70 Key Resistance level: %excerpt%.85 The momentum was simply not there over the weekend to push the price higher and this led to today’s decline towards the key support at %excerpt%.70. The resistance at %excerpt%.85 is still far away and XRP appears unable to muster sufficient strength to go higher at this time. Chart by TradingViewTechnical Indicators Trading Volume: The low volume has sucked out the momentum from XRP which appears to suffer a pullback at the time of this post. RSI: The daily RSI has failed to make a higher high to date. XRP simply needs more volume and momentum to go higher. MACD: The daily MACD completed a bullish crossover last Friday. This is good news for buyers, but the histogram shows a lack of momentum since the crossover. Chart by

Topics:
Duo Nine considers the following as important: , , ,

This could be interesting, too:

CryptoVizArt writes XRP Bull Run Paused as Bears Push Toward %related_posts%.6 (Ripple Price Analysis)

Dimitar Dzhondzhorov writes XRP’s Price Eyeing the Target in the Next Few Months Despite the Market Correction: Analyst

CryptoVizArt writes Ripple Price Analysis: XRP Bull Run Finally Here as Buyers Push to %related_posts%.70?

Dimitar Dzhondzhorov writes ChatGPT Analyzes if the Ripple (XRP) Price Can Surpass Before the Bitcoin (BTC) Halving

Key Support levels: $0.70

Key Resistance level: $0.85

The momentum was simply not there over the weekend to push the price higher and this led to today’s decline towards the key support at $0.70. The resistance at $0.85 is still far away and XRP appears unable to muster sufficient strength to go higher at this time.

XRPUSDT_2022-01-17_16-09-37
Chart by TradingView

Technical Indicators

Trading Volume: The low volume has sucked out the momentum from XRP which appears to suffer a pullback at the time of this post.

RSI: The daily RSI has failed to make a higher high to date. XRP simply needs more volume and momentum to go higher.

MACD: The daily MACD completed a bullish crossover last Friday. This is good news for buyers, but the histogram shows a lack of momentum since the crossover.

XRPUSDT_2022-01-17_16-09-17
Chart by TradingView

Bias

The current XRP bias is neutral. The cryptocurrency has so far failed to move higher and lacks volume.

Short-Term Prediction for XRP Price

If the buyers manage to take over, then XRP can finally resume its uptrend towards the key resistance at $0.85. The current price action is stuck in a range and XRP showed very little commitment to break away.

About Duo Nine

Leave a Reply

Your email address will not be published. Required fields are marked *