XRP continues with its modest moves. Side trading has been the dominant way for this coin for some time now. However, the target of $0.4 resistance was reached two weeks ago, and the coin continues to trade within this range. During the previous week the coin was moving between levels $0.36 and $0.38. Trading volumes continue to be decreased with equal participation of both buying and selling orders.
Technical indicators continue to reflect XRP`s side trading. RSI was also moving within a small range between 54 and 58. Market is still closer to the overbought side, however, it is unclear when this level will actually be reached. Moving average of 50 days is not diverging anymore from its MA200 counterpart, but these indicators are still moving as two parallel lines, without any indication that convergence might soon start.
Current charts are pointing that side trading might continue in the coming period. This is supported by decreased daily trading volumes, which does not provide adequate support for the price to be pushed on either side. In this sense, it might be expected that the price of the coin will continue to move in a range between support and resistance levels at $0.35 and $0.40.
Technical indicators continue to reflect XRP`s side trading. RSI was also moving within a small range between 54 and 58. Market is still closer to the overbought side, however, it is unclear when this level will actually be reached. Moving average of 50 days is not diverging anymore from its MA200 counterpart, but these indicators are still moving as two parallel lines, without any indication that convergence might soon start.
Current charts are pointing that side trading might continue in the coming period. This is supported by decreased daily trading volumes, which does not provide adequate support for the price to be pushed on either side. In this sense, it might be expected that the price of the coin will continue to move in a range between support and resistance levels at $0.35 and $0.40.
