- XRP/USD is stuck in a narrow range between the upside limit at $0.34 and the range support at $0.33.
- Bullish flag pattern breakout is around the corner.
Ripple’s XRP is range-bound following the sight bullish movement that occurred on Monday. The recovered happen across the board, however, at the time of writing at $1 billion in losses has been recorded in the last 24 hours.
XRP made a brief but incredible upsurge from the lows traded close to $0.3152. An additional movement made it above both the 50-day Simple Moving Average (SMA) and the 100-day SMA in the 1-hour range. XRP/USD continued trending above the resistance turned support at $0.33. However, lack of catalyst resulted in a reversal on failure to clear the hurdle at $0.34.
Ripple’s XRP reacted in a short-term bullish flag pattern which is approaching a breakout. XRP is changing hands at $0.331. Moreover, it is stuck in a narrow range between the upside limit at $0.34 and the range support at $0.33. The 100-day SMA is positioned to offer support in the same range at $0.34 while the 50-day SMA currently at $0.329 will prevent further breakdown below the range support.
If the bullish flag pattern support is broken, Ripple’s XRP is likely to continue trending lower and risk sliding below the above-mentioned range support. The Relative Strength Index (RSI) on the same chart is heading to the south to show that the bears are increasing their entries will continue to gain ground against the bulls in the short-term. The Directional Movement Index (DMI) is also sloping downwards and can be used to confirm the bearish trend. Besides, the support areas mentioned above, XRP/USD will find refuge at $0.3250 and $0.315 respectively.
XRP/USD 1-hour chart 
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