Since late December 2018 XRP-Dollar market ranges between $0.35 low and $0.39 high. Its Bitcoin market experiences a fall to a current low at 9000 Satoshi. They move in the opposite direction.
Resistance levels: $0.39, $0.44, $0.49
Support levels: $0.35, $0.29, $0.25
Looking at the price graph, candlesticks are choppy as trade move in a sideways. Significantly, volatility and trading volume are low. The 100 days moving average (yellow line) signals ranging market; it slopes horizontally. See the RSI indicator confirming the trend, swinging straight.
The buying pressure is shown on the 4 hours Stochastic RSI, aiming the overbought zone. A break is expected at $0.35 support level to send price lower to $0.29, and breaking $0.39 resistance level will surge price to $0.44. Players and investors should watch out for the move!
After recording a high of 10710 Satoshi (Bitfinex) in late December 2018 before closing at 10345 SAT, trade has been declining. This drop actually affects Ripple’s position, now behind Ethereum as the third largest cryptocurrency according to CoinMarketCap.
As the bearish candles become more dominant, the 4 hours RSI signals the downward move and the yellow line confirms the slope direction. Currently, buyers’ failure to respond strongly will position price lower. The Stochastic RSI is at overbought, waiting for selling pressure.