Considering recent comments from the SEC officials, there is doubt that Ripple would win the ongoing dispute with SEC, which was the main reason behind XRP`s drop in price to the level of support line at $0.45. Daily trading volumes continue to be relatively low, which would help XRP to sustain current levels in the coming period.
The price of XRP was moving in a relatively short range during the week, from a minimum level of $0.45 up to $0.46. The market is evidently on hold when it comes to XRP. RSI continues to hold below level of 50, finishing the week at level of 43. This points that the market is currently oriented toward the oversold side. On the other hand, the moving average of 50 days is still clearly diverging from its MA200 counterpart, still supporting the Golden cross.
XRP will start the week ahead by testing the $0.45 support line. As current trading volumes are low, there is a lower probability that this line will be clearly breached. It could be expected for the price to continue to oscillate around $0.43 - $0.46 levels in the coming week.
The price of XRP was moving in a relatively short range during the week, from a minimum level of $0.45 up to $0.46. The market is evidently on hold when it comes to XRP. RSI continues to hold below level of 50, finishing the week at level of 43. This points that the market is currently oriented toward the oversold side. On the other hand, the moving average of 50 days is still clearly diverging from its MA200 counterpart, still supporting the Golden cross.
XRP will start the week ahead by testing the $0.45 support line. As current trading volumes are low, there is a lower probability that this line will be clearly breached. It could be expected for the price to continue to oscillate around $0.43 - $0.46 levels in the coming week.
