Ripple Price Dominant Trend: Ranging
Supply Levels: $0.44, $0.46, $0.48
Demand Levels: $0.36, $0.34, $0.32
Ripple (XRP) experienced a slight price decrease of approximately -1.03% in the last 24 hours, which allowed the price to return below the $ 0.40 level. However, the coin reached the resistance at the upper limit of a symmetric triangle pattern and seems to have difficulty reaching the top. It remains in third place among the best crypto-currencies, with a market capitalization of 17.06 million dollars. The XRP has now seen a promising 25% rise over the past 30 days, suggesting there may be a larger increase on the horizon. Since the last XRP/USD analysis, you can see that the XRP rate has recovered to $0.38 after the next support level and is now trading above $0.39 but currently trading below the 55-day MA. However, the XRP/USD is now operating laterally in a consolidation pattern and simply looking at the 4-hour chart, should in case it breaks and crosses down the lower side of the pattern, the market could experience a slight decline.
Looking up, if the bulls can push the market above the upper limit; you can expect the next highest resistance to be between $0.42 and $0.43. On top of that, additional resistance is located at $0.44, the highest in June 2019. Should in case the values remained above $0.44, the resistance would be between $0.46 and $0.48. Looking below, the closest support level is now $0.36. Below that, there is additional support in the lower limit of the triangle. If the sellers diverge then the support is $0.34 and $0.32. The volume of transactions is still quite boring and below average. The stochastic RSI moving to the overbought territory on the 4-hour chart, suggesting that the XRP could break below the triangle.