Ripple Showing Little Sign of Strength amidst Selling Pressure

After each failed attempt, the market will fall to $0.195 low and resume upward move. In retrospect, on April 29, Ripple rose to its peak price of $0.235 high but it reached the overbought region of the market. Sellers emerged to push price downward. The market has fallen from a high of $0.235 to $0.205 low. 

Nonetheless, for the XRP to resume a fresh uptrend the bulls must break the downtrend line, and price closes above it. Also, the resistance at $0.205 must be breached. Buyers have failed to push the price above these levels, rather price is in consolidation in form small body candlesticks below the resistance. Perhaps, a breakout will propel prices to break through these levels. The market will rally above $0.23 if the bulls were successful.

Ripple indicator analysis

The blue downtrend line is yet to be broken and a break above it with price sustained will signal the resumption of the uptrend. XRP is still above the 50% range of the daily stochastic indicating bullish momentum.

Key Resistance Zones: $0.35, $0.40, $0.45

Key Support Zones: $0.25, $0.20, $0.15 

What is the next move for Ripple?

Ripple has been confined below the $0.205 resistance. The market is currently trading below the resistance level with small body candlesticks. A breakout or breakdown is likely to occur after a period of consolidation.