The dynamic resistance has not been broken
XRP continued its range trend last week between the resistance and support levels intended for it. The price made a short-term strong bearish move to the $0.30 support area, which we expected, and was explored in the previous analysis. This momentary drop caused the positions taken to buy in the futures market to be liquidated. Again, a negative reaction was observed from above and in the resistance range of $0.35, which caused the continuation of the ripple range trend.
The dynamic resistance of the downtrend line has not yet been broken, and until this happens, we cannot expect the short-term trend to be bullish. A break of this resistance and price consolidation above the $0.36 range could activate higher targets at the $0.40 level. You can wait at least until the downtrend line of the RSI indicator breaks and creates favorable conditions to trade in the pullbacks that will occur to the support levels, and you can start trading if you see signs of support, start trading.
The dynamic resistance of the downtrend line has not yet been broken, and until this happens, we cannot expect the short-term trend to be bullish. A break of this resistance and price consolidation above the $0.36 range could activate higher targets at the $0.40 level. You can wait at least until the downtrend line of the RSI indicator breaks and creates favorable conditions to trade in the pullbacks that will occur to the support levels, and you can start trading if you see signs of support, start trading.
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