Technical Analysis

XRP price technical analysis. Consolidation continues

Published

5 years ago

October 5, 2019

Arthur Webb

XRP price broke $0.25500 resistance
Stop-loss hunts continue

1 hour XRP/USD price chart

The price of XRP cryptocurrency managed to test a $0.25500 resistance level only to roll back into a consolidation zone right afterward. Some short stop loss positions were trapped in that move providing liquidity to the market. XRP price continues its consolidation and we can next witness $0.25750 or even $0.26150 resistance levels to be reached.

However, both MACD and Money Flow Index indicators on an hour chart suggest some bearish pressure, so price might first test support levels at $0.2500 or even $0.24600.

Chart source: Tradingview

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