Ripple rises from the ‘crypto’ to test the resistance at $0.2850. A consolidation phase is in the offing and likely to set the ground for a brief rally towards $0.30. Ripple price is battling to stay in the green on Friday during the Asian session. The third-largest crypto in the world kicked off the session at $0.2767. A bullish leg touched highs around $0.2786 but XRP has adjusted to the current $0.2778. According to the intraday chart rates table, the prevailing trend is bearish (short-term) amidst shrinking volatility. Meanwhile, the buyers need to be commended for their resilience in the past 48 hours. From the recent low at $0.25, XRP has tested the resistance at the 50 Simple Moving Average (SMA) on the two-hour chart currently at $0.2850. The recovery has also formed a bearish flag pattern likely to influence the next movement in terms of direction. A bearish flag pattern is used to signal a reversal in a slightly bullish market. It comes after a sharp decline and suggests a continuation of the downtrend. In this case, XRP could make a return to $0.25 before staging another recovery. However, depending on other technical indicators, the effect of the bearish flag pattern could be averted entirely. The Relative Strength Index (RSI) has recovered significantly from the oversold levels. The RSI is holding ground just above the average. The horizontal motion suggests that a consolidation phase could come into the picture before XRP rallies towards $0.30 XRP/USD two-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Asian stocks drop on growth concerns, Sterling remains weak FX Street 3 years Ripple rises from the 'crypto' to test the resistance at $0.2850. A consolidation phase is in the offing and likely to set the ground for a brief rally towards $0.30. Ripple price is battling to stay in the green on Friday during the Asian session. The third-largest crypto in the world kicked off the session at $0.2767. A bullish leg touched highs around $0.2786 but XRP has adjusted to the current $0.2778. According to the intraday chart rates table, the prevailing trend is bearish (short-term) amidst shrinking volatility. Meanwhile, the buyers need to be commended for their resilience in the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
