- Ripple renews momentum in tandem with Bitcoin and Ethereum as the focus stays on $0.3.
- Ripple faces growing selling pressure in the range starting at $0.29 – $0.30.
Spot rate: $0.2855
Relative change: 0.004625
Percentage change: 1.63
Trend: Bullish bias (short-term)
Volatility: High
BTC/USD daily chart
%20(14)-637170738763026791.png)
Ripple buyers refuse to give up control with the RSI staying in the overbought region despite the lower correction experienced in the last couple of days. The upward motion with the momentum indicator suggests that the path of least resistance is to the upside. Support is coming from the accelerated trendline, the 200SMA, the main trendline, and the 50SMA marginally above $0.22.
XRP/USD 2-hour chart
%20(16)-637170737358619358.png)
The zone starting from $0.029 – $0.30 remains the biggest seller congestion zone and must be shuttered if XRP has a chance to trade above $0.30. The moving averages including the 50SMA and the 21SMA are in line to offer support. It is apparent that the bulls intend to continue the action upwards. Any dips are expected to find support at $0.28, $0.26, $0.24 and $0.22.
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