In line with a general market sentiment during the previous week, the price of XRP was more oriented toward the downside. Although the coin started the week around level of $0.41, the coin is ending the week around level of $0.38. On a positive side is that the level of $0.40 is still strongly holding, regardless of general sentiment on the market.
During the week, the RSI was pushed below level of 50, reaching the 42 line. This is indication that the market started to look toward the oversold side. Moving averages of 50 and 200 days didn’t change much from their previous path, and continue to move as two parallel lines.
Current charts are pointing that the market strength for holding above the $0.40 resistance line is drying up. This comes as a result of both general market sentiment and decreased trading volumes. This also opens a path for XRP to move to the lower grounds, toward the short term line at $0.37 and potentially $0.35 support line. At this moment, there is no clear indication that the price might clearly move above $0.40 resistance.
During the week, the RSI was pushed below level of 50, reaching the 42 line. This is indication that the market started to look toward the oversold side. Moving averages of 50 and 200 days didn’t change much from their previous path, and continue to move as two parallel lines.
Current charts are pointing that the market strength for holding above the $0.40 resistance line is drying up. This comes as a result of both general market sentiment and decreased trading volumes. This also opens a path for XRP to move to the lower grounds, toward the short term line at $0.37 and potentially $0.35 support line. At this moment, there is no clear indication that the price might clearly move above $0.40 resistance.
