Ripple has been consolidating between $0.4242 and $0.51978 for more than a month. Currently, the prices have been hovering near the bottom of the range for the past six days. This shows a lack of buying at these levels.
If the bulls don’t force a bounce above $0.47 within the next couple of days, the XRP/USD pair might slump below $0.4242. Any breakdown of the range will be a bearish indicator, which can result in a fall to $0.33.
On the upside, $0.51978 will continue to act as a stiff resistance. If the bulls can push the prices higher and consolidate close to the top of the range, it will be a bullish sign. We shall wait for a break out of the range before proposing any trades on it.
Source:cointelegraph
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