XRP’s volatility decreased this week, and the price has been moving sideways.
Key Support levels: $0.54
Key Resistance levels: $0.60, $0.68
1. Price Consolidates
XRP is consolidating in a flat trend under 60 cents. So far, buyers failed to break this level and turn it into a key support. While momentum remains neutral, bulls could attempt to take this cryptocurrency higher in the days to come.
2. Momentum is Flat
If we look at the MACD and RSI indicators, we can see that momentum has been flat since mid-September. The price also remained in a tight range with little volatility as it continued to move sideways.
Despite this, the daily MACD is on the positive side, which favors buyers.
3. Volume is Declining
The lack of volatility has pushed market participants away from XRP.
Since the spike in August, the volume has been in constant decline. Due to this, the price failed to make any major moves, and until the 60 cents resistance is broken, buyers are unlikely to return.
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