Ripple steps out of the consolidation phase and remained motionless under $0.19 as the buyers failed to contain the gains at the level. In the following Ripple XRP price news, we take a closer look at the analysis.
XRP/USD pair is gradually sliding back to the consolidation supported by the confluence at $0.1880 as Ripple briefly stepped above the $0.19 in the widespread crypto gains during the trading session on Monday. The recovery happened after a week of consolidation over the short term support at $0.1860 but before that Ripple refreshed towards the $0.1840 support back on June 20. As it can be seen from the charts, most assets corrected higher like ethereum and Bitcoin. The benchmark cryptocurrency even increased towards $10,000 but stalled under $9,800 while ETH stepped above the $240 but failed to sustain more gains past the $250 level.
Ripple steps out of the consolidation phase because it was unable to hold the gains above $0.19 leading to another slide under the Bollinger Band 1-hour middle curve. The buyer pressure at the confluence formed close to the 50 SMA while the 100 SMA and the Bollinger Band 1-hour lower curve formed support close to the $0.1880. In the meantime, XRP is trading at $0.1889 following the slight retreat from the high of $0.1906. The trend is sideways especially with the RSI remaining motionless at 50. The MACD is set at the midline which could spike another consolidation. A break above $0.19 will have to happen in order for the bulls to shift their focus to $0.20.
As previously reported, The ripple price remained in a bearish zone and settled below the key $0.1920 level. XRP continued its decline below the $0.1880 support and the 100 hourly simple moving average. The asset traded as low as $0.1848 but there was a break above this level later with no major signs of an upward move. XRP’s price now coincides with the 50% Fib retracement level from the downward movement of $0.1986 high to $0.1848 low. A successful break above the $0.1920 resistance has to happen in order for an uptrend to continue and lead XRP to the $0.2000 resistance level. Ripple is still lacking the bullish momentum above $0.1850 and if it continues to struggle above the $0.1880 resistance zone or fails to settle above the 100 hourly SMA, there will be a risk of a fresh decline.
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