Consolidation in ripple (XRP) has now entered the tenth day. It is very unusual for cryptocurrencies to consolidate for so many days in a row. Although, last year, many expected that this year from the start would help investors see some rippling gains (XRP). This, however, did not happen. It saw a decline on 10 January and, subsequently, it is consolidating on a consistent basis.
When will this consolidation to ripple (XRP) end?
When observing the price movement of Ripple (XRP) over the last ten days, it has moved into a narrow range of $ 33- $ 36. The range is about 8%. When you look at historical price ripple (XRP) movements, you will realize that this range is quite short. When you look at the support options, there is solid support for $ .30. Breaking this is unlikely. If however, it breaks, it can go up to $ 0.25. On the upper side, the resistance is around $ .42. We are looking at the long-term charts to find the general trend.
It seems that; it may continue in this interval until one of these levels is interrupted. The problem is that consolidation leads to lower volumes. At lower volumes, some volatility is possible on both sides. It will not be suitable for investors who are exchanging ripples (XRPs) for a long time hoping that they will be able to blow up the resistance we just mentioned. Unless and until the resistance is erased, much ripple movement is expected.
When we look at the fundamental side, the primary indicators are quite reliable. More and more companies are considering using RippleNet products. It demonstrates the potential of RippleNet products and leaves no doubt that RippleNet products are good enough. Only if the use of the XRP token increases and ripples (XRP) cancels the significant resistance, the price of the Ripple tokens will increase. This is why even though fundamentals are constantly improving, it seems that investors will have to wait a little while before they can see any gain on their investments.
Also, if you are thinking about taking positions at current levels, it is a good idea to check the trade with the different indicators like MACD and RSI before making a decision. When you do, the chances of a false exchange occurring will be significantly lower.