- Ripple remains range-bound between $0.23 and $0.25.
- Trading a above the 50 SMA ($0.25) could open the way for gains towards $0.29 (supply zone).
Ripple price action shows no enthusiasm for buyers who prefer to stay hibernated. The mundane trading over the weekend saw XRP remain largely unchanged. Besides, the price is trading sideways within a flag pattern with resistance at $0.25 and support at $0.23.
Also limiting movement north is the 50 simple moving average on the hourly chart. Applied technical indicators like the relative strength index and the moving average convergence divergence (MACD) suggests the tug war is moving in favor of the buyers.
The MACD cross above the mean line (0.000) will encourage the buyers to leave the hibernation. Trading above $0.25 (range limit) could open the way for gains towards $0.29 (supply zone).
If the bears manage to penetrate the support at $0.23, XRP could end up in losses towards last week’s support at $0.2168.
XRP/USD four-hour chart
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