- XRP/USD had a strong breakout with a lot of continuation on July 6.
- The recent consolidation has been deeper than expected although the daily uptrend is intact.
XRP saw a significant crash towards $0.19 while in consolidation mode. Nothing is lost yet as bulls only need to hold $0.172 to defend the daily uptrend. The recent broken trendline will serve as a support line.
XRP/USD daily chart
The RSI has cooled off while the MACD continues climbing. The daily 12-EMA at $0.1893 can be used as the next support level followed by $0.188, the 26-EMA. Despite the recent fall, XRP is still hot but in slight danger, if the bullish momentum doesn’t resume fast enough.
XRP/USD 4-hour chart
The 4-hour chart has experienced a clear reversal and it’s now in a downtrend. Bulls are currently defending the 26-EMA at $0.195 while the MACD has crossed bearishly. The most crucial support level was established at $0.1832, if the buyers cannot hold this level, the momentum for XRP will be certainly lost.