XRP token is consolidating at the higher levels after a strong bullish momentum from the lower side. Presently the coin is consolidating just above the short-term moving average of 20-day moving averages and trying to hold it.
After a strong bullish momentum is facing minor rejection on the higher side, and as a result, the coin is facing selloff at higher levels. Volume at the monthly chart is also increasing and needs more improvement for another lap of positive momentum. XRP, in the present scenario, is trading above all vital moving averages of 20, 50, 100, and 200-day lines. At the same time, short-term moving averages of 20 and 50-day lines act as initial support lines. Support on the lower side is at $0.96 and $0.82, whereas resistance on the higher side is $1.36 and $1.64.
XRP token has been trading sideways since the last few trading sessions
On the weekly chart, the XRP token has been trading sideways since the last few trading sessions, with average volume activity. In contrast, the technical parameters are projecting a mixed trend and gradually heading lower with low volume. We can soon see strong bullish momentum if the volume activity will improve in upcoming trading sessions. Presently, the XRP price is trading at $1.13 with an intraday change of -2.65%, and the volume to market cap ratio is at 0.06738.
Relative Strength Index (NEUTRAL): XRP token RSI presently indicates a sideways and neutral trend over the weekly chart. In contrast, the RSI is trading flat under the neutral zone, with no sign of significant momentum, and now CMP at 47.
Moving Average Convergence Divergence (MIXED): This currently indicates a mixed trend on the daily chart. In comparison, the seller’s line (orange) and the buyer’s signal line (blue) overlap.
Support levels: $0.96 and $0.82
Resistance levels: $1.36 and $1.64.