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The price of XRP has entered another consolidation pattern After a break below $ 2.4 at the weekend. Now this is nothing recent in the case of XRP, which was previously long consolidation. As before, the current consolidation seems to precede something bigger, and this movement can cause Altcoin to start with recent ups of all time.
The price of XRP continues above key service
In the analysis “Dennishhrndz” shown where the price of XRP is currently sitting and the factors surrounding Altcoin. First, he explains that cryptocurrency is still exceeding the long -term growing trend line. In addition, the stubborn pattern is strict consolidation, which he compared to the classic “rolled spring”.
Not only this, but in the last six months the price of XRP has also contributed to the higher low, which is stubborn at the price of any cryptocurrency. Because XRP maintains this trend, it suggests that there is still a stubborn firepower despite the drop in prices. Add the fact that it is still trading above very crucial support of the trend line, XRP shows that its growth is far from the end.
Trendline support here is USD 2 The price of XRP still bypasses around $ 2.3It is still over 10% from testing this level of support. The power, the main resistance described by the cryptographic analyst is one at the level of 2.7 USD. This suggests a speed before the price of XRP encounters any crucial offense.
Other crucial changes that should be noted is that the RSI is now sitting in a neutral position. At 50.88 RSI, give or take, it means that RSI is reset. This gives a fresh start and a reflection board, which can aid him start towards the next main level.
MacD also sees a stubborn crossover, because at this time the rush is slowly growing. This is also due to the decrease in the volume of rotation. Now low commercial volumes often signal bear control, but also serve as a signal leading to groundbreaking patterns.
When to enter
Given the changes described by a cryptographic analyst, he gives two main purchase levels. The first here is a zone from 2 to 2.2 USD. It is here that support for the XRP price lies and serves as a purchase zone. Meanwhile, the second level in which you can get is after a break above USD 2.7 with a mighty volume, which would signal the continuation.
Such a break above USD 2.7 would allow XRP price per rally towards his real goals. First there is a run of $ 3.50, and then the cryptographic analyst sees a shot of up to 5 USD. “The longer it consolidates above the support of the trend line, the stronger the breakthrough movement will be,” said the analyst.
A distinguished picture from Dall.e, chart from tradingview.com
