XRP TARGET POINTS SHORT TERM ANALYSISRipple’s XRP fell by 2.91% on Tuesday. Partially reversing Monday’s 15.12% rally, Ripple’s XRP ended the day at $1.01077.
A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $1.09942 before hitting reverse.
Coming up against the first major resistance level at $1.1011, Ripple’s XRP slid to a late intraday low $0.97312.
Steering clear of the first major support level at $0.9311, Ripple’s XRP moved back through to $1.00 levels to limit the downside.
At the time of writing, Ripple’s XRP was down by 0.53% to $1.00538. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.01888 before falling to a low $1.00433.
Ripple’s XRP left the major support and resistance levels untested early on.
As the two trend lines converge, the consolidation nears an end. On the other hand, the ascending lows insinuate that bulls are getting stronger. A break occurs before the lines meet and is characterized by an uptick in trading volume. Triangles have clear breakout measured from the highest to the lowest points. For example, Ripple could swing 34%b higher to trade around $1.44 if the pattern on the chart matures as expected.
The sluggish price action is punctuated by the Relative Strength Index (RSI) and will likely last longer. Similarly, the Moving Average Convergence Divergence (MACD) indicator does not have a defined signal; thus, bullish and bearish forces seem to cancel out, explaining the consolidation at $1.
Ripple intraday levels
Spot rate: $1
Trend: Sideways
Volatility: Low
Support: $0.9 and $0.8
Resistance: $1.1 and $1.2
