Will XRP stay in the sideways trend channels?
Hello everyone, I invite you to a quick review of the XRP to USDT chart on the 12H interval.
As we can see, the XRP price is moving in a sideways trend channel in which the price bounce did not effectively overcome the resistance at $ 2.27, the next resistance is at $ 2.47, but then we have visible resistance at $ 2.61, another strong resistance is at $ 2.78, and only when we have a positive exit from the channel, the price can get a strong upward impulse around the resistance at $ 3.29.
In a situation where the market will have a further reaction and the price will start to fall again, we have visible support at $ 2.22, then strong support at the lower limit of the channel at $ 1.94, however, if the price leaves the channel at the bottom, it may get a drop to around $ 1.72, and further, taking into account the height of the channel, there may be a price reversal to $ 1.39.
The RSI indicator has room for continued growth, but a lot depends on the behavior of BTC itself.
As we can see, the XRP price is moving in a sideways trend channel in which the price bounce did not effectively overcome the resistance at $ 2.27, the next resistance is at $ 2.47, but then we have visible resistance at $ 2.61, another strong resistance is at $ 2.78, and only when we have a positive exit from the channel, the price can get a strong upward impulse around the resistance at $ 3.29.
In a situation where the market will have a further reaction and the price will start to fall again, we have visible support at $ 2.22, then strong support at the lower limit of the channel at $ 1.94, however, if the price leaves the channel at the bottom, it may get a drop to around $ 1.72, and further, taking into account the height of the channel, there may be a price reversal to $ 1.39.
The RSI indicator has room for continued growth, but a lot depends on the behavior of BTC itself.
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