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Ripple price analysis: Some more consolidation before momentum picks up

FX Street
Updated:
  • Stuck in a narrowing range.
  • Breakout lurks ahead.

Ripple, the payments solution crypto is stuck in a narrow range wherein the bottom has been holding on while the upper range has been coming lower, a sign that the breakout of this range is getting closer.

XRP/USD is trading mildly green on day at $0.430 and in about 1 percent range for the day. Bottom for the crypto has been holding on the 480-minute charts in the form of a strong support while the resistance descending line from the June high is now placed at $0.45.

Given the range, this breakout should lead to a crossover on the upside in the coming days.

XRP/USD 480-minute chart:

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