- Ripple kicks off the weekend trading mundanely; upside capped by both the 50 SMA and the 100 SMA.
- RSI and MACD trend suggest continued sideways trading for Ripple.
Ripple has been very lethargic in its trading this week. A shallow recovery from the minor dip to the main support at $0.25 failed miserably in the attempt to break above $0.26 resistance. The weekend trading also started mundanely. XRP hit a high of $0.2562 from an opening price of $0.2559. An intraday low has been formed at $0.2546 (current market value) following a subtle 0.5% loss.
The price is still dancing below the Simple Moving Averages four days in a row. Both the 50 SMA on the four-hour chart and the 50 SMA form a resistance confluence limiting upward movement at $0.2570.
The technical picture is neither negative nor positive. This has introduced an element of indecision in the market. The Moving Average Convergence Divergence (MACD) is leveling ground just below the mean line (0.000). At the same time, the Relative Strength Index (RSI) is pivotal with minor oscillations around the average (50). The trend of both of these indicators suggests that Ripple will continue with the sideways trading in the coming sessions.