Technical Analysis

XRP price analysis: Loss of bullish momentum?

Last updated

5 years ago

September 5, 2019

Arthur Webb

XRP is trading in the negative territory down by 0.50%.
1 Hour RSI indicator is 41.81
The current support is $0.25800, resistance is $0.26250

1 Hour XRP/USD price chart

After peaking above $0.26500 XRP failed to sustain that bullish momentum and retraced into consolidation zone. Now XRP price is fluctuating between the resistance – $0.26250 and support – $0.25800. It well worth noting that current support was just broken and its yet to see what direction price will go. If price moves below $0.25650, expect new support to be established at that level. Further bearish pressure may push the price down lower to the next level of support at $0.25500.

However, if the price moves back into the consolidation zone above $0.25800, expect current resistance to be tested yet again.

Chart source: Tradingview

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