- XRP Price is trading between $ 0.70 and $ 1.02 after braking the support trendline
- On the hourly chart the coin has been trading sideways in zones
- RSI indicates neutrality on both the charts
XRP Price has broken an upward trending support line on the daily chart. The coin is currently in a consolidation phase post-breakout from the positive sloping support. The coin is currently trading in the zone of $ 0.70 and $ 1.02. The Relative Strength Index indicates neutrality for the coin. The volumes for the coin have been declining over the year. The coin looks to continue consolidation in the current zone, having said that traders must look out for directional changes as the coin nears the support and resistance zones. The coin has long-term resistance at the $ 1.40 zone.
XRP Price is in a consolidation phase on the hourly chart between $ 0.70 and $ 0.80 over the last few trading sessions. The coin looks to continue the consolidation going by the latest candlestick formations. The coin was trading in a parallel negative sloping zone towards the end of December before taking support at $ 0.80. The coin broke the support and fell into the current zone it is trading in. the RSI chart also indicates neutrality for the coin. The volumes for the coin have declined on average over the last month.
Conclusion:
XRP Price has been trading in parallel channels on the hourly chart. The coin is trading in a phase of consolidation. The RSI indicator indicates neutrality for the coin and the volumes have significantly declined for the coin.
Support: $ 0.70
Resistance: $ 1.02
DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.