XRP Continues Its Horizontal Trend And Holds Above $0.48

Sep 11, 2023 at 09:51 // Price
Coin Idol
XRP is moving horizontally

Cryptocurrency analysts of Coinidol.com report, XRP price is consolidating above the $0.48 price level and has maintained its horizontal trend.

XRP price long-term forecast: in the range 

The 21-day line SMA or the barrier at $0.51 has slowed down the upward movement. The doji candlesticks have slowed down the price movement. Currently, XRP is consolidating between $0.48 and $0.51.The price of the cryptocurrency has erratic price activity.The altcoin will start when the price of the cryptocurrency rises or falls.XRP will continue to consolidate while the doji candlesticks dominate the price movement.

XRP indicator analysis

The Relative Strength Index has remained at 34 due to the price consolidation. Horizontal and flat moving average lines indicate sideways movement. The bearish momentum has stalled below the Stochastic daily threshold of 46.

XRPUSD_(Daily Chart) – Sept. 10.23.jpg

Technical Indicators:

Key resistance levels – $0.80 and $1.00

Key support levels – $0.40 and $0.20

What is the next move for XRP?

The cryptocurrency is moving horizontally. The price movement has stalled and held above $0.48. The altcoin is showing erratic price movement on the 4-hour chart. Resistance and support are no longer visible as the cryptocurrency continues to consolidate.

XRPUSD_(4- Hour Chart) – Sept. 10.23.jpg

As we reported on September 04, at the time of writing, the cryptocurrency is trading at $0.50. The altcoin has remained at this price level for the past two weeks. 

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.

Show comments(0 comments)