XRP-BTC market falls: The price is facing sellers’ action as the trend remains slope. The XRP-USD pair is declining. Trading drives low to $0.28. XRP Dollar-Bitcoin movement is synonymous. Both markets aim next support level.
Resistance levels: $0.38, $0.44, $0.49
Support levels: $0.28, $0.25, $0.22
In mid-December 2018, XRP made a bottom at $0.28; where the market climbed to $0.46 price level. Ever since, the price action remains above the 200 days moving average line; still maintaining the medium-term uptrend.
Last week, this pair fell below the line and trade was positioned in a downward direction; now sitting on the trend line. Following the trend line, the price bars attempt to break in but the pressure was not strong. Gradually, the RSI shoots down as sellers approach $0.28 support level.
On the Stochastic RSI: the ongoing selling pressure is revealed. It would last to the oversold on the trend line. A buying pressure might fly to $0.38, lies the major resistance.
Having tested 10700 SAT (Binance) in late December 2018, this pair has been falling. This fall is pictured on the RSI indicator. After the 10700 SAT peak, price has not reached the overbought. Instead, the RSI waves lower. The low swing reach for 8600 SAT support level.
For over days, XRP as a hedge is accumulating for the next move. It’s currently at the consolidation stage. The squeeze is due to inactive trading and non- volatility session. However, an incline rally is expected at 9400 SAT resistance and a decline continuation to 8600 SAT support.
Another low check is the 200 days MA line; the Japanese candle trends below it in a side-way. The hovering Stochastic RSI suggests the bearish continuation.