Ripple is experiencing a trend of flattening along the entire crypto market. Currently, trading volumes are low and there are no credible bullish signs of price behavior.
Technical analysis
To Grizzly
Daily chart
In the daily time frame, XRP is trading on horizontal support for $ 0.33 (blue). The ongoing plunge stopped on May 12 at the intersection of the descent line (yellow) and the static support. Since then, cryptocurrencies have tended to be sideways.
Looking at the Momentum 30D indicator, the blue index (red box) in the bear zone indicates an unfavorable market structure. Historical records show that when this index rises above the baseline (zero), the bearish momentum usually begins to decline. In other words, this signal means that the bear has temporarily retreated. That’s the case, and if the Bulls can push the price above horizontal resistance at $ 0.46 (white), we can expect a short-term rise.
Main support levels: $ 0.33 and $ 0.24
Major resistance levels: $ 0.46 & $ 0.55
moving average:
MA20: $ 0.40
MA50: $ 0.50
MA100: $ 0.64
MA200: $ 0.72
XRP / BTC chart
Horizontal support at 1250 Sats (green) for Bitcoin has so far prevented further price cuts. However, bears have not yet allowed XRP to cross the dynamic resistance barrier (white) and form higher highs (yellow).
If the bear cannot defend this level, horizontal resistance at the 1550 Sats (red) will be the next challenge for the Bulls. Price behavior against BTC seems to be more difficult than the US dollar. The structure is bearishly biased, and if this continues, support in the 1250Sats can be lost.
Main support levels: 1250 Sats & 1100 Sats
Major resistance levels: 1550 Sat and 1700 Sat
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Cryptocurrency chart by TradingView.
