Ripple is trending sideways in line with the entire crypto market. Currently, trading volume is low, and there is no credible bullish signal in price action.
On the daily time frame, XRP is trading with horizontal support at $0.33 (in blue). The ongoing sharp decline stopped on May 12 at the intersection of the descending line (in yellow) and stable support. Since then, the cryptocurrency has been in a sideways trend.
Looking at the “Momentum 30D” indicator, the blue index in the bearish zone (red box) confirms an unfavorable market structure. Historical records show that if the index moves above the baseline (zero), the bearish momentum will usually start to subside. In other words, this sign means that the bears have temporarily retreated. If so, and if the bulls can push the price above the horizontal resistance at $0.46 (in white), one can expect a short-term rally.
Key Support Levels: $0.33 and $0.24
Major Resistance Levels: $0.46 and $0.55
Against Bitcoin, the horizontal support at 1250 SAT (in green) has so far prevented further decline in the price. However, the bears are yet to allow XRP to break above the dynamic resistance barrier (in white) and form a higher high (in yellow).
If the bears fail to defend this level, horizontal resistance at 1550 SAT (in red) will be the next challenge for the bulls. The price action against BTC seems to be more difficult as compared to USD. The structure is bearish, and if it continues, support at 1250 SAT is likely to be lost.
Key Support Levels: 1250 sat and 1100 sat
Major Resistance Levels: 1550 sat and 1700 sat
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Cryptocurrency charts by TradingView.