- The current trend is turning bearish and Ripple could close the week in the red.
- The Relative Strength Index (RSI) is in a downward direction after being rejected from the overbought.
The cryptocurrency market is waking up again following a few days of low activity. As the new month sets in, Ripple is supported by great news following the groundbreaking listing on Coinbase with full support on its iOS and Android platforms.
The bullish trend towards last week zoomed above $0.34 but failed to break the previous week’s high at $0.35. XRP/USD embarked on a downward slope below $0.31 and formed a low at $0.3050 on Wednesday. There has been a correction to the upside with the 23.6% Fib retracement level between the last swing high of $0.3476 and a low of $0.2984 working as an important support.
At the moment, XRP/USD is trading at $0.3211 and trending higher 1.31% on the day. The crypto has tested the resistance at $0.3250. Looking at the technical levels the current trend is turning bearish and Ripple could close the week in the red. The Relative Strength Index (RSI) is in a downward direction after being rejected from the overbought. Moreover, the slow stochastic oscillator is sloping downwards as well.
XRP/USD 15-minutes chart
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