- The bears are in charge but the bulls are holding the ground strongly.
- XRP bulls are currently battling to escape the range resistance.
Ripple’s XRP has been in the red in most of the trading sessions this week. However, it is essential to note that there has been a high level of stability. The bears are in charge but the bulls are holding the ground strongly in order to prevent declines below the range support at $0.32. Presently, XRP is changing hands at $0.32 after correcting lower 1.2% according to the live stream data provided on FXStreet Website.
Prior to the above-mentioned stability, XRP/USD tumbled after the rejection at $0.38. The devastating waterfall drop failed to find support at $0.36. The declines headed further south where the bulls took a pit stop at $0.3166. While there has been a correction from the support, XRP is currently stuck in a narrow range with the upper limit at $0.34 capping the gains.
The bulls are currently battling to escape the range resistance. An upside move above the range resistance will test the triangle resistance in the 4-hour timeframe. A breakout is expected and will push the crypto towards the broken support at $0.36 and later retest $0.38 as it prepares to clear the seller concentration at $0.4.
Meanwhile, a look at the chart shows that XRP will continue with the sideways trend in the near-term. This is according to the Relative Strength Index (RSI) which is changing its direction north towards the 50% mark.
XRP/USD 4-hour chart 
Share
