XRP/USD touches the area above $0.24 at the opening of the market today, but failed to hold the ground and retreated quickly towards $0.23 by the time of writing. Nevertheless, the Ripple (XRP) has stayed mostly unchanged both on a day-to-day basis and since the beginning of today. XRP/USD now remains at a tight range that limited its bullish movements since October 23.

What is the Next Direction for Ripple?
However, should the bulls manage to push the market above the moving averages; they may soon find the resistance at $0.26, $0.27, and $0.29 levels. Meanwhile, if the market continues to experience the bearish movement, it may likely hit the nearest support at $0.22 and a further drop could pull the market to $0.21 and $0.20 supports. The technical indicator RSI (14) for XRP/USD is slowly moving below the 40-level, suggesting more bearish signals into the market.

Against Bitcoin, XRP is still trading on the downside, although the price action has remained intact below the 9-day and 21-day moving averages. Meanwhile, if the selling pressure persists, the Ripple price variation may likely create a new low in the next coming trading days.

Reference by: Azeez Mustapha