Selling orders were prevailing on the market for XRP during the previous week, so the price of the coin was pushed down to the level of the next support line at $0.35. For a few weeks, coin was struggling to sustain the $0.40 support line, however, negative fundamentals were the ones that made an impact for XRP to finish the week at the next support line. Considering general market sentiment, certainly challenging times are ahead for XRP.
Weekly highest level reached was $0.41 after which XRP reverted to the down side, breaking $0.4 support line at finishing week at next support at $0.5. RSI started the week around level of 40 but reverted back to level of 33. Clear oversold market has not been reached, which increases potential for one to be reached in the coming period. Moving average of 50 days started stronger divergence from MA200 counterpart.
XRP is currently testing a $0.35 support line. In case that market continues with selling orders, the price might break the support line in order to test another one at level of $0.30. However, if XRP manages to sustain its current level, then the price might revert a bit to the upside in order to test resistance at $0.40.
Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
Weekly highest level reached was $0.41 after which XRP reverted to the down side, breaking $0.4 support line at finishing week at next support at $0.5. RSI started the week around level of 40 but reverted back to level of 33. Clear oversold market has not been reached, which increases potential for one to be reached in the coming period. Moving average of 50 days started stronger divergence from MA200 counterpart.
XRP is currently testing a $0.35 support line. In case that market continues with selling orders, the price might break the support line in order to test another one at level of $0.30. However, if XRP manages to sustain its current level, then the price might revert a bit to the upside in order to test resistance at $0.40.
Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
