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Technical Analysis

XRP Price Aims At Liquidity Below Support

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  • XRP price is down by 1.5%
  • Continues sideway trading
  • Mounting bearish pressure

1 Hour XRP/USD price chart

XRP price is slowly moving away from the $0.30 resistance line. The price is moving down on low volume and low momentum suggesting that there is not enough bearish pressure to initiate a downtrend. However, XRP price is likely to tap into the liquidity pool below $0.28900 support in the short term. The stop loss hunt may continue below the next support – $0.28450.

There is plenty of liquidity available now above $0.29800. There was a stop hunt at resistance just yesterday. However, levels below that price were untouched so after testing support levels XRP price may very likely to go up and re-test 30 cents resistance and above. It is best to wait for MACD indicator to print bullish crossover to go long at the moment.

Chart source: Tradingview

Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.


 

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