The bullish momentum of XRP wanes, will the bears fall below $ 0.40? (Ripple price analysis)

The bullish momentum of XRP wanes, will the bears fall below $ 0.40? (Ripple price analysis)

It seems that the XRP has been caught in a range between $ 0.32 and $ 0.44 for several weeks. Finally, the upward trend, which started at $ 0.32, came to a stall after he had reached a level of resistance.

technical analysis

of Shayan

the daily -type

Last week the price of XRP spent a clear interest bully sign by claiming the sliding 100-day and 200-day average at around $ 0.39. However, the rally was stopped after it had reached the trend line, which has been increasingly descending and the decisive resistance brand of $ 0.44.

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The 4-hour diagram

In the 4-hour period, the declining bullish momentum is obvious because the pace of the rally slowed down, which led to a rather restless price movement. After reaching the resistance zone of $ 0.44, the cryptocurrency was rejected and entered a consolidation phase.

At the same time, XRP also fell under the short -term trend line, which offered the price great support during the recent rally, which indicates that a short -term correction could be possible. Taking into account all the above points, the price could therefore enter a consolidation correction phase in the medium term. This only ends when Ripple leaves the price range mentioned with sufficient swing.

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