Ripple Price Analysis: XRP/USD motionless under $0.19 as consolidation takes point
|- Ripple briefly stepped out of consolidation but buyers failed to contain the gains above $0.19.
- XRP/USD is gradually sliding back to consolidation supported by a confluence at $0.1880.
Ripple briefly stepped above $0.19 in widespread cryptocurrency gains during the American session on Monday. The recovery occurred following a week of consolidation above the short term support at $0.1860. Prior to that, Ripple had refreshed lows towards $0.1840 support on June 20.
As mentioned, most cryptocurrency assets corrected higher including Bitcoin and Ethereum. Bitcoin rose towards $10,000 but stalled under $9,800. Ether stepped above $240 but failed to sustain gains past $250.
Ripple also did not contain the accrued gains above $0.19, leading to another slide under the Bollinger Band 1-hour middle curve. Luckily, the buyer congestion at the confluence formed by the 50 SMA, the 100 SMA and the Bollinger Band 1-hour lower curve formed support around $0.1880.
Meanwhile, XRP is trading at $0.1889 following the slight retreat from the weekly high at $0.1906. Generally, the trend is sideways, especially with the RSI almost motionless at 50. The MACD is seating above the midline while encouraging consolidation. A breakout above $0.19 is needed for the bulls to shift their focus back to $0.20.
XRP/USD 1-hour chart
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