- Sellers concentrate around $0.20, making recovery an uphill task.
- Ripple bears back in action ahead of the weekend session, as observed with the MACD’s bearish cross.
Spot rate: $0.1855
Relative change: -0.002680
Percentage change: -1.42%
Trend: Bearish short term
Volatility: Expanding
XRP/USD daily chart
Ripple contains losses above $0.1750 support, although an upward movement is still limited.
Technically, sideways trading is likely to take center stage considering the RSI is horizontal a 30.
The double-cross of the 50 SMA below the 200 SMA suggests that a lower consolidation could take place before any significant recovery takes occurs.
XRP/USD 1-hour chart
Ripple sustains a gradually upward sloping trend in spite of the failure to break the $0.20 resistance zone.
The current attempts to move upwards deal with the rising selling pressure at the 50 SMA, $0.1900 and the 100 SMA.