Ripple Technical Analysis: XRP Hovering Between $0.545 and $0.70 Since June 22
Daily Ripple XRP Price Analysis
- The Ripple price has strong support at $0.615.
- XRP Stuck In Lower Bollinger Band For almost 2 Months.
- XRP has flipped the 20-bar and 50-bar SMAs from support to resistance.
- The parabolic SAR has reversed from positive to negative.
The Ripple price has been hovering in the low Bollinger Band for almost 2 months now. XRP has stuck below the 20-day SMA since June 29. The $0.615 support wall has prevented the price from falling any further.
Ripple Price Trapped Between The 20-day SMA and $0.615
Ever since June 30, the Ripple price has met resistance at the 20-day SMA and dropped from $0.703 to $0.626. XRP has met continuous obstacles at this level during this time period. The Bollinger band has been narrowing to indicate decreasing volatility.
Image: XRP/USD daily
In the 4-hour time frame, the Ripple Price has flashed two different sell signals:
Image: XRP/USD 4-hour
Ripple Price Is Expected To Reach These Levels
The Ripple price needs to gain enough momentum to break 20-day SMA and reach the upper Bollinger Band ($0.70).