Dominant bias for XRP – Ranging
Resistance Levels- $0.6000 $0.6500, $0.7000
Support Level-$0.3500, $0.3000. $0.2500
XRP remains in a range-bound market. $0.4565 in the support area was the low the cryptocurrency attained due to the bears’ pressure at the weekend while $0.4680 in the resistance area was the high made by the bulls at the same period.
Todays 4-hour opening candle at $0.4643 is a bearish spinning top a signal for reversal and most likely the bears may be making a return within the range.
Price is around the two EMAs with the stochastic oscillator at 60%, with its signal pointing up, which present an unclear movement within the range.
XRP is in consolidation and trading between $0.4800 in the upper resistance area and at $0.4450 in the lower support area of the range. Traders should be patient at this period and allow a breakout at the upper resistance area or breakdown at the lower support area before taking a position with good reversal candlestick pattern that confirms the direction.
