Ripple Technical Analysis: XRP/USD stuck between stacks of resistance and support levels

• Sellers concentrate around $0.20, making recovery an uphill task.
• Ripple bears back in action ahead of the weekend session, as observed with the MACD’s bearish cross.

Spot rate: $0.1855

Relative change: -0.002680

Percentage change: -1.42%

Trend: Bearish short term

Volatility: Expanding

XRP/USD daily chart

Ripple contains losses above $0.1750 support, although an upward movement is still limited.

Technically, sideways trading is likely to take center stage considering the RSI is horizontal a 30.

The double-cross of the 50 SMA below the 200 SMA suggests that a lower consolidation could take place before any significant recovery takes occurs.

XRP/USD 1-hour chart

Ripple sustains a gradually upward sloping trend in spite of the failure to break the $0.20 resistance zone.

The current attempts to move upwards deal with the rising selling pressure at the 50 SMA, $0.1900 and the 100 SMA.