The calm before the storm? XRP consolidates under critical level (Ripple price analysis)

The calm before the storm? XRP consolidates under critical level (Ripple price analysis)

rippleder Price of has moved in a narrow area in the past few weeks because the markets are heading for 2023. This could also be a signal for the price that the price is about to outbreak volatility, as a period of continuing calm on the market are usually a preliminary stage.

technical analysis

from: Edris

XRP/USDT-TACTART:

On the daily chart, the course has been consolidated under the sliding 50-day average for some time. The sliding 50-day and 100-day average, which are around $ 0.37 or $ 0.39, are currently flat after you have printed a declining cross.

If the price finally reaches the sliding 50-day average and breaks over it, the sliding 200-day average and the resistance range of $ 0.43 would be the next potential goals. If the price begins to fall, the important level of support of $ 0.3 would come into play again.

A declining outbreak from this level would probably be catastrophic for XRP, since another crash would be expected.

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XRP/BTC daily diagram:

If you look at the paired BTC diagram, the price still has to break out from both sides of the large descending channel. The sliding 200-day average has been holding the price for some time while it has been continuously tested in the past few days.

In the case of an interest bully recovery of the 200 days, the sliding 50-day average, which tends near the significant satellite resistance level of 0.000022, would be the next obstacle before the upper limit of the canal comes into play. On the contrary, a collapse of the sliding 200-day average would probably lead to a rapid decline in the direction of the satellite level of 0.000018.

Finally, it can be said that the price movement has almost no indication of the direction of the next significant movement, but in this analysis both bullish and declining scenarios were discussed.

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