Ripple has appointed a new president, Monica Long. She has been with the company since the beginning, and noted in her Tweet that is looking forward to scale in business and expand the Ripple team. It was generally positive news, considering all ongoing lay-offs in the tech industry, however, it did not help too much to XRP`s price during the previous week. The coin is continuing to make small steps, but this time, to the lower grounds. On a positive side is that the price is still holding around $0.40 resistance line. Highest weekly level reached was at $0.43.
Two weeks ago RSI touched level of 70, which might be treated as the overbought side, and started its short term reversal, in line with spot price developments. During the week, the indicator dropped to the level of 61. Moving average of 50 days continues its quite slow and modest divergence from MA200 counterpart, confirming the end-of-December cross.
XRP continues to take small steps, which is coin`s most usual mood for market movements. Charts are still pointing that the coin is struggling to make a clear break of the $0.40 resistance line. In this sense, the coin will start a week ahead by continuing to test this line. In case that there is no market strength to break this level, the coin might revert to downside, to test $0.37, a short term stop line, before a $0.35 support line.
Two weeks ago RSI touched level of 70, which might be treated as the overbought side, and started its short term reversal, in line with spot price developments. During the week, the indicator dropped to the level of 61. Moving average of 50 days continues its quite slow and modest divergence from MA200 counterpart, confirming the end-of-December cross.
XRP continues to take small steps, which is coin`s most usual mood for market movements. Charts are still pointing that the coin is struggling to make a clear break of the $0.40 resistance line. In this sense, the coin will start a week ahead by continuing to test this line. In case that there is no market strength to break this level, the coin might revert to downside, to test $0.37, a short term stop line, before a $0.35 support line.
