It was nice to see XRP on a good, old track to the upside again. Certainly, the increase was rather modest, if compared with performance of other altcoins, but it shows that investors are still quite interested in this coin, and that its time might still come in the future, after a dispute with SEC is finalised. XRP started the previous week around $0.34 level and moved all the way up to the resistance level of $0.40. At this occasion, there has not been strength to break this line.
It is interesting that with a latest push in price, the RSI did not reach a clear overbought side, instead, the indicator stopped at level of 67. This might be an indication that the market still has some space to move the price to the upside, in order to reach a clear overbought side, or, due to lower trading volumes, there was no strength for a higher level. Moving average of 50 days took a move to the upside, while MA200 continues to move as a straight line. There is still a difference between two lines, in which sense, a cross which occurred as of the end of December is still holding.
Higher daily trading volumes at the beginning of the week, which pushed the price to the higher grounds, decreased as of the week-end. This might add to the probability that short term reversal could occur in the coming days. Still, it should not be expected to have a stronger push to the downside. Based on the current charts, it could be expected for XRP to continue to test the $0.40 resistance line, with potential for short reversal down to the short term support line at $0.35.
It is interesting that with a latest push in price, the RSI did not reach a clear overbought side, instead, the indicator stopped at level of 67. This might be an indication that the market still has some space to move the price to the upside, in order to reach a clear overbought side, or, due to lower trading volumes, there was no strength for a higher level. Moving average of 50 days took a move to the upside, while MA200 continues to move as a straight line. There is still a difference between two lines, in which sense, a cross which occurred as of the end of December is still holding.
Higher daily trading volumes at the beginning of the week, which pushed the price to the higher grounds, decreased as of the week-end. This might add to the probability that short term reversal could occur in the coming days. Still, it should not be expected to have a stronger push to the downside. Based on the current charts, it could be expected for XRP to continue to test the $0.40 resistance line, with potential for short reversal down to the short term support line at $0.35.
