Cryptocurrency Analysts Report XRP Price Consolidation
At the time of writing, XRP is trading at $0.50, maintaining its price level for the past two weeks.
- Two exceptions: retested $0.55 resistance and experienced two rejections at recent high
- Doji candlesticks keeping price action steady above $0.50 support
- Current support at historical price level of June 13
- Market will consolidate above $0.50 support as long as doji candlesticks exist
XRP Indicator Analysis
XRP price is consolidating as it approaches the Relative Strength Index (RSI) level of 33 for the period 14.
- Price bars below moving average lines indicate potential crash
- Negative trend zone affecting altcoin’s upward momentum
- Slowing down above level 40 of the daily stochastic
Technical Indicators
- Key resistance levels: $0.80 and $1.00
- Key support levels: $0.40 and $0.20
What’s Next for XRP?
XRP is expected to continue trading in a range between $0.50 and $0.55. A price rally or breakout would exceed this range, but if doji candlesticks dominate, XRP will remain range-bound.
As of August 17, XRP price regained support at $0.50 and traded between $0.48 and $0.56 last week.
Hot Take
XRP’s price consolidation and steady support above $0.50 indicate the potential for further range-bound trading. Traders should closely monitor the doji candlesticks and key resistance levels for any potential breakouts or rallies.
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