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Technical Analysis

XRP technical analysis. Avoid stop-loss hunt

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  • XRP price trades horizontally
  • Price consolidation in the area of $0.29 – $0.30
  • Possible stop-loss hunts

1-hour XRP/USD price chart

XRP/USD price continues its consolidation while trading mostly sideways. The current price is hovering around $0.29-$0.30 mark. In the short term, it is worth paying attention to key liquidity areas at both support and resistance levels. Stop-loss hunts may likely to occur at levels just below of $0.2890 and $0.28250. On the contrary, shorts may be trapped at the levels just above $0.30400 and $0.30850.

Chart source: Tradingview

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