The last week was characterized by trading very low volumes on Bitcoin and XRP. Bitcoin managed to keep above the downtrend. However, any massive sale could push the Bitcoin into the bear market. My point is that many traders, both big and small, are waiting. What are they waiting for? Wait for a clear direction to open the right orders, no matter if it's a classic purchase order or a short order on margin instruments.
XRP / USD was also maintained above the downtrend. It is possible that this lateral movement will continue for the next few weeks. Do not forget that on XRP / USD we have entered the accumulation period, which could take several months. This period will be characterized by higher background points. Furthermore, the best prices will be higher. However, it is quite unlikely that the XRP / USD price will exceed $ 0.80-1.2 by the end of this year.
The resistance lines: Support lines:
R1 – 0.50 usd S1 – 0.45 usd
R2 – 0.60 usd S2 – 0.36 usd
R3 – 1 usd (psychological) S3 – 0.25 usd (bottom)
What's happening on XRP / USD next week?
Next week, I expect XRP / USD to move sideways in the range of 0.36 to 0.50 USD. Although the price of Bitcoin is obviously weak at this point, I expect that in the next period will have a new upward move. The target price up to which Bitcoin can go is 7500 usd. I do not think Bitcoin's passing will happen next week. Probably this lateral movement will take a few weeks. Given the excellent fundamentals, we could see that the XRP / USD will pass before Bitcoin.