- Ripple trades just under flat as most of the other crypto majors move higher.
- The price moved out of the consolidation zone earlier in the session only to move back in.
XRP/USD 1-hour chart
Ripple has bounced from the lows after dropping heavily over the last week. From its highest point, last month to its lowest point this month XRP/USD lost 68% of its value. Now there is a consolidation pattern forming and on the hourly chart, there have been some consecutive higher lows.
Looking closer at the chart now, The consolidation high of 0.1696 was broken but just today (Friday) the price has dipped back in. The MACD indicator histogram has also turned negative and dipped below the zero line. Luckily the bulls have a few positives. The price is above the 55 EMA and there is also the trendline (black line) support close by too. Beyond that, the psychological 0.15 level and 0.13 support zone could also provide some traffic.
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