- XRP price gained 0.5% in 24 hours
- Price consolidation in the area of $0.268 – $0.281
- Possible stop-loss hunts at the resistance levels
1 Hour XRP/USD price chart
XRP is trading sideways after hitting support at $0.26800 several times. The price went down as much as $0.2650o but formed a low tail candlestick and retraced back into consolidation zone, suggesting that it was merely a stop loss hunt for long positions below the current support line. It is very much possible that stop-loss hunts will occur at the other end of the consolidation zone too, hitting resistance lines at $0.281 and $0.288.
Chart source: Tradingview
Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. Ripplecoinnews does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Investing in Cryptocurrencies involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses, and costs associated with investing, including total loss of principal, are your responsibility.
Credit: Source link
