Where does XRP control next? (Ripple price analysis)

Where does XRP control next? (Ripple price analysis)

After a solid upward trend that achieved a significant resistance area at $ 0.55, the volatility increased in the past few days, which led to a rejection of the sliding 100-day average and the mean trend line of the channel.

The XRP Prize currently consolidates without concrete indications in its future direction.

ripple privacy analysis

by Shayan

The daily chart

A closer look at the daily chart shows that the XRP price, as soon as it reached the significant resistance at $ 0.55, which coincided with the previous big day pivot, was exposed to an extreme volatility.

This led to a rejection and a decline in the direction of the sliding 100-day average, which is around $ 0.47. In addition, a double-top pattern has formed in the range of $ 0.55, which indicates a declining outlook at short notice.

Nevertheless, it seems likely that the price will consolidate within an area, which is limited by the static resistance range of $ 0.55 and the dynamic level of support of the sliding 100-day average, which is currently $ 0.465 until it comes to an outbreak in one direction.

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The 4-hour diagram

When analyzing the 4-hour charts, the XRP price on June 5 fell back to the middle trend line of the rising channel. Then it initiated an upward movement to break the range of $ 0.55.

The sales pressure in this area stopped the upward trend, which led to a significant rejection towards the middle border of the channel.

Rippleder Price found support for the second time on the middle border, which is $ 0.47, and began another upward movement. Nevertheless, it seems more likely that the cryptocurrency will consolidate in the area of ​​the significant resistance at $ 0.55 and the middle limit of the channel.

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