It was a positive week for XRP, as the coin managed to regain some 20% in value within a single week. After a strong push of the price since the end of March this year, it seems that XRP is ready to finally stabilize the price, after reaching a minimum level at $0.30. During the first part of the week, XRP was traded sideways, without strength to make a move further to the downside. During the second half of the week, XRP entered into a short reversal, moving the price to the upside and level of $0.38.
Divergence of moving averages of 50 and 200 days continues, indicating that potential cross is not in prospectus for some time in the future. On the other hand, RSI made a strong move from the oversold zone up to the level of 50. This indicates a potential for the market to set the stage for the path to the overbought market.
Current charts are indicating that there is potential for XRP to make further moves to the upside in order to reach the overbought side of the market. In this sense, the resistance line at $0.4 might be the next target of XRP in the coming period. On the opposite side, there is also potential for a support line at $0.30 to be tested one more time.
Divergence of moving averages of 50 and 200 days continues, indicating that potential cross is not in prospectus for some time in the future. On the other hand, RSI made a strong move from the oversold zone up to the level of 50. This indicates a potential for the market to set the stage for the path to the overbought market.
Current charts are indicating that there is potential for XRP to make further moves to the upside in order to reach the overbought side of the market. In this sense, the resistance line at $0.4 might be the next target of XRP in the coming period. On the opposite side, there is also potential for a support line at $0.30 to be tested one more time.
