Search ForexCrunch
  • Ripple deals with low trading activity as bulls hibernate following a false breakout.
  • A short-term improving technical picture suggests correction above $0.25 is imminent.

Spot rate: $0.2484

Relative change: -000048

Percentile change: 0.01%

Open: $0.2484

Low: High: $0.2495

Trend: Bullish

XRP/USD daily chart

Ripple slows down the downtrend after hitting a snag at the 50 simple moving average.

$0.24 is coming up as a credible support area defending the crypto from breaking down to test recent lows under $0.22.

XRP/USD 240′ chart

Short-term technical indicators suggest that Bitcoin sideways trading above $0.24 will continue in the near-term.

The breakout above $0.24 failed to make headway in the resistance range between $0.26 and $0.28.

XRP/USD 60′ chart

Flag pattern consolidation gave in to declines; Ripple currently struggling to push for recovery above $0.245.

An improving bullish picture is in tandem with the trend seen with the relative strength index.