Ripple Price Analysis: XRP/USD dilemma mounts amid consolidation; will it be $0.20 or $0.10?

• Ripple price consolidation above $0.14 support continues amid growing stability for the top three cryptocurrencies.
• Technical indicators remain in favor of the bears, further undermining upward movements towards $0.15 and $0.16.

Spot rate: $0.1454

Relative change: -0.0027

Percentage change: -1.86%

Trend: Bullish

Volatility: High

XRP/USD daily chart

Ripple price trading is stuck in a narrow range between $0.14 and $0.15. Sideways action is expected to take precedence in the range and could last for a few days. The range action is emphasized by the RSI, currently holding the position at 30. Besides, the double-cross of the 50-day SMA under the 200-day SMA signals that sellers have more influence over XRP/USD.

XRP/USD 60’ chart

Ripple price immediate upside is limited by both the 100 SMA and the 50 SMA on the 1-hour chart. The bullish grip appears to be diminishing while sellers gain traction. An ascending trendline is in line to offer support ahead of the range support at $0.14. If push comes to shove and losses extend further down, $0.13 and $0.1 are expected to come in handy. However, the MACD shows that all is not lost and that buyers still have the strength to defend the support at $0.14.

Ripple price key levels

Support one: $0.1447 – Fibonacci 61.8% one-day and pivot point one-month support two.

Support two: $0.1432 – Fibonacci 23.6% one-week, Bollinger Band 1-hour lower curve and the pivot point one-day support one.

Resistance one: $0.1478 – SMA five 1-hour and the Fibonacci 23.6% one-day.

Resistance two: $0.1568 – Pivot point one-day resistance two and BB 4-hour upper curve.