As it was expected, XRP continued with side trading for another week in a row. It is interesting that from May this year, Friday trading sessions have significantly increased trading volumes. This might be an indication that “whales” are on the move during these days in order to maintain the price of XRP. However, this is only an assumption based on chart data, while actual data are not available.
During the previous week XRP was moving in a range of $0.36 up to $0.38. In line with short market moves, technical indicators are looking sort of “frozen”, making conclusions and predictions based on technical analysis hard, as those indicators are created for volatile, not for constant market variables. RSI was continuously moving around level of 57, while moving averages of 50 and 200 days continue to move as two parallel lines.
What could be expected in a coming period will depend on a future supply and demand for this coin. Charts continue to point to the levels of $0.4 resistance and $0.35 support line.
During the previous week XRP was moving in a range of $0.36 up to $0.38. In line with short market moves, technical indicators are looking sort of “frozen”, making conclusions and predictions based on technical analysis hard, as those indicators are created for volatile, not for constant market variables. RSI was continuously moving around level of 57, while moving averages of 50 and 200 days continue to move as two parallel lines.
What could be expected in a coming period will depend on a future supply and demand for this coin. Charts continue to point to the levels of $0.4 resistance and $0.35 support line.
