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- Ripple's XRP adds more than 1% while full-market bulls wake up from sleep.
- The current consolidation of Ripple will probably continue towards weekend trading.
As the week's trading ends, digital assets are correcting higher than the losses recorded after the New Year celebrations. As we discussed for several days, Ripple failed to support the Christmas rally over $ 0.4 and cut the gains to support at $ 0.35.
The price also formed a bullish flag pattern, which later culminated in a breakout that exceeded both Simple Moving Averages (SMA) and 50 days and 100 days. The breakout recovered above $ 0.38 but it was not possible to zoom over $ 0.385. The XRP / USD opened trading yesterday around $ 0.38, but ended the session at $ 0.36.
There was a slight upward correction with the price adding 1.15% today. The Ripple XRP currently has a value of $ 0.365 and immediately fights with the resistance of 100 SMAs. A move above the moving average will pave the way for further movement beyond the 50 SMAs and will eventually hit $ 0.37 in preparation for the move to $ 0.4.
The current consolidation of Ripple will probably continue towards weekend trading. The MACD on the same chart is kept tight on the average line. However, an interruption in the oversold region will see the asset embark on the move described above. In the meantime, an inversion will support $ 0.360 – $ 0.350.
XRP / USD 1 hour chart
