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XRP Price Analysis: Consolidation Below Resistance

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  • XRP is looking to restest $0.30
  • Falling Wedge Formation
  • Growing bullish pressure

1 Hour XRP/USD price chart

XRP price against the U.S. dollar continues its consolidation in the 29 cents price range. After a fake breakout above $0.30 the price may well dip below $0.29600 and $0.29350 in the short term or go lower and test $0.29150 and $0.28500 support levels. MACD on one hour chart recently printed bearish crossover, which can act as a bearish signal in the short term.

However, in the longer term, XRP price looks more likely to retrace back into consolidation as soon as it finds liquidity below support.

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OhNoRipple via @RippleCoinNews, @Khareem Sudlow