- Ripple trades 1.29% lower on Thursday as bulls and bears fight over the 0.20 handle.
- The price has moved into a channel formation with an upward tilt.
XRP/USD 4-hour chart
Ripple remains in a bullish trend on the 4-hour chart below. The price continues to make higher highs and higher lows but it seems the bulls have stalled at 0.20. That is noticeable on the volume histogram at the bottom as it has dropped off significantly. The two key zones are now the blue resistance zone and the red support a break either way will give us clues to the trajectory of the price in the future.
Looking at the technical indicators now, the price remains above the 55 and 200 period moving averages. This is still considered as bullish as they have been used well in the past. The RSI indicator is also showing a lower wave low while the price made a higher wave low. This is called a bullish failure swing and can sometimes indicate there is some bullishness to come.
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