Ripple Price Analysis: XRP/USD range-bound between $0.21 and $0.2338


  • The double-top pattern impact is still in play as XRP seeks support at $0.22.
  • Ripple slides into a sideways trading trend where $0.22 is the support and the 100 SMA the resistance.

The cryptocurrency market is gradually turning green following a gruesome start of the week. Trading has been lethargic for the major cryptoassets. Ripple has continued to press against the key support at $0.22. Moreover, the momentum is stuck in a range between $0.21 and $0.2338.

The price is dangling at $0.2233 at the time of writing. The immediate upside is capped by the resistance at the 100 SMA on the 2-hour chart. The short term 50 SMA is holding ground at $0.2227 ahead of the range resistance.

The RSI recovery hit a dead-end shy of 50 and is moving horizontally at 49.09. The sideways trading is likely to continue in the coming sessions with $0.22 continuing to function as immediate support. The range support at $0.21 will be the last resort before XRP refreshes the lows close to $0.20.

XRP/USD 2-hour chart

 

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