Although XRP took some time in order to pass the last 10 pips until the $0.4 resistance line, on Saturday trading session, the coin managed to finally reach its goal from the beginning of June this year. It was a hard task on the first viewing, but XRP managed to accomplish it. Regardless of this success, XRP still continues to move in a modest price range. Investors don’t mind as long as these moves are in a positive direction.
Small price moves continued also during the previous week, from the minimum weekly level at $0.32, up to $0.4 as of the end of the week. RSI has been pushed to the level of 65, implying that the market is heading toward the overbought side, but it might take another week until a clear overbought zone is reached. For the moment, indicators are not pointing to potential short reversal. Moving averages of 50 and 200 days continue to move as two parallel lines, still not showing indication that convergence is coming.
XRP reached a significant milestone, by successfully testing the $0.4 resistance line. At this moment there is no indication that this line might be clearly breached in the coming days, especially taken into account that XRP continues to be in its slow-motion mood. In this sense, it is to expect that the coin will continue to test current $0.4 resistance, with the same potential for a $0.35 support line.
Small price moves continued also during the previous week, from the minimum weekly level at $0.32, up to $0.4 as of the end of the week. RSI has been pushed to the level of 65, implying that the market is heading toward the overbought side, but it might take another week until a clear overbought zone is reached. For the moment, indicators are not pointing to potential short reversal. Moving averages of 50 and 200 days continue to move as two parallel lines, still not showing indication that convergence is coming.
XRP reached a significant milestone, by successfully testing the $0.4 resistance line. At this moment there is no indication that this line might be clearly breached in the coming days, especially taken into account that XRP continues to be in its slow-motion mood. In this sense, it is to expect that the coin will continue to test current $0.4 resistance, with the same potential for a $0.35 support line.
