XRP Price Analysis: Consolidation Below Resistance

• XRP is looking to restest $0.30
• Falling Wedge Formation
• Growing bullish pressure

1 Hour XRP/USD price chart

XRP price against the U.S. dollar continues its consolidation in the 29 cents price range. After a fake breakout above $0.30 the price may well dip below $0.29600 and $0.29350 in the short term or go lower and test $0.29150 and $0.28500 support levels. MACD on one hour chart recently printed bearish crossover, which can act as a bearish signal in the short term.

However, in the longer term, XRP price looks more likely to retrace back into consolidation as soon as it finds liquidity below support.

Chart source: Tradingview

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