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  • XRP/USD was trading for $0.319 as the markets opened this Thursday.
  • The market is still trending in an extremely narrow range with little to no momentum.

XRP/USD keeps creeping along at an extra-slow pace. Currently, XRP/USD is trading for $0.319 as the markets opened this Thursday which is a negligible decrease from this Wednesday’s $0.320. Technical analysis shows that the market is experiencing decreasing volatility. Immediate resistance for the market lies at $0.335 while support lies at $0.306.  

XRP/USD daily chart

The XRP/USD daily chart is trending above the 20-day simple moving average (SMA 20) and SMA 50 curves which is a bullish sign. However, the moving average convergence/divergence (MACD) histogram and the 20-day Bollinger band shows decreasing market volatility, so any sudden movement is not expected. The relative strength index (RSI) curve is trending in the neutral territory. The Elliot wave oscillator also indicates that there is a lack of any momentum in the market right now.