Dominant bias for XRP – Ranging
Resistance Levels- $0.6000 $0.6500, $0.7000
Support Level-$0.3500, $0.3000. $0.2500
XRP continues in a range-bound market in the medium term outlook. $0.4534 in the support area was the high the bulls could take the cryptocurrency while $0.4438 in the support area was the low the bears dropped XRP.
The 4-hour opening candle at $0.4472 was bearish though higher than yesterday opening price at 4456. The implication of this is that more buyers are present in the market
The stochastic oscillator is at 32 %, with its signal undefined but in a parallel line an indication of the ranging scenario.
XRPUSD 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.