It was a relatively good week for all coins on the crypto market, and XRP was not left aside. However, current charts are revealing some weaknesses of the coin, which might lead the price to the lower grounds in the week ahead.
XRP started the previous week around level of $0.36. After the positive sentiment hit the market, the price managed to return to the higher grounds and reach its highest weekly level at $0.4, which is also the resistance line. There was no further market strength to move the price above this line. Resistance is holding strongly since the start of this year. RSI is showing a clear signal that the market is more oriented toward the oversold side. Indicator is still holding around the 50 line, but with indication that soon might head to the lower levels. Moving averages of 50 and 200 days are still moving as two parallel lines, without an indication that they might change the course anytime soon.
Current charts are pointing toward the short reversal for XRP. In this sense, the coin might head back to the levels above the $0.35 current support line. At this point, there is no indication that the price might move lower from this level. On the opposite side, $0.40 resistance might be shortly tested for one more time.
XRP started the previous week around level of $0.36. After the positive sentiment hit the market, the price managed to return to the higher grounds and reach its highest weekly level at $0.4, which is also the resistance line. There was no further market strength to move the price above this line. Resistance is holding strongly since the start of this year. RSI is showing a clear signal that the market is more oriented toward the oversold side. Indicator is still holding around the 50 line, but with indication that soon might head to the lower levels. Moving averages of 50 and 200 days are still moving as two parallel lines, without an indication that they might change the course anytime soon.
Current charts are pointing toward the short reversal for XRP. In this sense, the coin might head back to the levels above the $0.35 current support line. At this point, there is no indication that the price might move lower from this level. On the opposite side, $0.40 resistance might be shortly tested for one more time.
