Ripple price analysis: Short term top in place

Ripple enters consolidation after a stellar run last week.
Immediate top in place.

Manoj B Rawal Independent Analyst

Ripple's XRP crypto has entered a consolidation phase after it has been able to surprise everyone last week by rising almost 200 percent in a span of four days as the short term top is firmly in place for now.

XRP/USD is down more than 1 percent on day at $0.5316, in the middle of day's range. On the 15-minute chart of XRP, it is facing stiff resistance in the form of a descending trendline and would retrace everytime it touches that.

On the downside though, strong supports are not around the corner until it reaches $0.50 after which all the way down to $0.45.

XRP/USD 15-minute chart:

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Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

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