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The recent sideways movement of XRP can cause an explosion?



Ripple remained fairly stagnant last week after suffering a slight 4% price drop at the time of writing to lower the price of XRP to $ 0.2694.

The cryptocurrency has had problems in the last 30 days, having dropped by a total of 15% in the last 90 days, with a further 37% price decrease. This is despite the rising price of Bitcoin. XRP remains the third largest cryptocurrency with a market capitalization of $ 11.56 billion.

Looking at the XRP / USD 1 daily chart:

  • we can see the sideways movement that XRP has gone through. The coin had tried to break $ 0.30, but was rejected, causing the XRP to fall below $ 0.28. Since then, XRP continues to trade sideways.
  • From Above: The next significant resistance levels are $ 0.281
    1 and $ 0.30. A higher resistance is then 0.3177 USD and 0.33 USD. Resistance at $ 0.33 is further compounded by the 100-day EMA, which is in this price zone. A higher resistance is $ 0.34 and $ 0.25 (includes 200-day EMA).
  • From Below: The next level of support is where the market is currently trading at $ 0.2686. Additional support is available at $ 0.26, $ 0.2584, $ 0.25 and $ 0.2461.
  • Trading volume remains low and below the average volume.
  • The RSI has failed in the two previous attempts to get past the 50 level. This shows that the sellers remain in control. In addition, the Stochastic RSI has recently reached overbought conditions and is prepared for a bearish crossover signal that is likely to signal a short-term bearish move lower.

  xrpusd_aug25-min

  • From above: The next resistance levels are 2710 SAT, 2800 SAT and 3000 SAT. A higher resistance is 3200 SAT, 3400 SAT and 3800 SAT. The 100-day EMA boosts resistance at 3800.
  • From below: The next support level is 2668 SAT and 2455 SAT. Further support can be found at 2200 SAT.
  • The RSI trades along with the 50-level, which is a promising sign for the XRP bulls. If the RSI exceeds the 50 mark, this indicates that the bulls control the market dynamics. However, the stochastic RSI is also set for a bearish crossover signal that would shift the market down.
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