fxs_header_sponsor_anchor

Ripple market update: XRP/USD pivotal at $0.255

  • Ripple is locked in a range between $0.26 and $0.25 amid low trading activity.
  • No rapid movements expected in the near-term unless a catalyst swings by.

Ripple lock-step trading has seen it remained unchanged across the weekend session. The lock-step trading is, instead, pushing XRP is a range with the limit at $0.26 and a possible support area at $0.25.

The hourly chart for XRP/USD trading pair shows an attempt made to rise above the resistance at $0.26 but the move was rejected and XRP culminated in another slide towards the short-term support at $0.25. Several other lousy attempts have tried to throw jabs at the impenetrable $0.26 but increasing selling activity is emanating from the descending trendline liming movement.

Ripple’s technical levels are slightly positive. The Moving Average Convergence Divergence (MACD) is holding tight on the mean line. Divergence inside the positive region will signal for more buying entry and sustained recovery towards the stubborn $0.28 resistance. The Relative Strength Index RSI) is sloping gradually towards the average as an indication of slightly growing bullish influence.

Meanwhile, investors should not expect rapid movements in the near-term sessions unless there is a catalyst. Besides the support at $0.25, traders need to be on the lookout for zones at $0.2450 and $0.2400 as they still remain vulnerable to losses.

XRP/USD 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.