- Ripple is struggling to stay in green following a mundane weekend session.
- The resistance at $0.30 has been impenetrable leaving XRP in a tight range between $0.29 and $0.31.
Ripple price action is lethargic, mundane and almost non-existent. Trading over the weekend session failed to break above the immediate $0.30 resistance. At the same time, the bulls were keen on defending the short-term support at $0.29.
Marginally above the current market value of $0.2921 is the first hurdle at the 50 Simple Moving Average (SMA) on the two-hour chart. The 100 SMA is also holding XRP back at $0.296.
The downside is initially protected by the 61.8% Fib level taken between the last swing high of $0.3153 and a swing low of 0.25. Other key support areas range from the ascending trendline, $0.28 and $0.25.
According to the Relative Strength Index (RSI), the buyers starting to gain traction against the bears. The RSI’s correction above 50 could easily catapult Ripple above $0.3 and place it in a trajectory towards $0.32.
XRP/USD 120′ chart
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