- XRP/USD is capped by $0.4900 resistance.
- Morning star candlestick modal may signal more upside on the intraday timeframe.
XRP/USD is trading at $0.4775 to press time, consolidating losses incurred late on Sunday. The third largest coin by market value lost nearly 3% on a daily basis; however, it is unchanged since the start of the day. XRP’s market value is registered at $18.7B, with the average daily trading volume of $217M.
From the technical point of view, the local support is created by $0.4500. If it is cleared, the sell-off may be extended to $0.4240, which is the lowest level since June 29. The coin is glued to a bunch of hourly moving averages, which may imply some rangebound price action on the intraday level. A morning star candlestick pattern that appears on the hourly chat may signal that more upside is in store.
Local resistance is seen at 0.4900; this is where new selling orders may appear and push the coin back in the range. Once it is cleared, $0.5000 will come into focus.
XRP/USD, 1-hour chart
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