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

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