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Ripple’s price has been consolidating on both the USDT and BTC pairs, failing to move decisively in any direction.
On the USDT paired chart’s daily timeframe, XRP’s price has been moving rangebound inside a symmetrical triangle pattern. The $0.5 level is currently holding the price, preventing it from dropping lower. Yet, the market has also failed to rally toward the 200-day moving average located around the $0.6 resistance zone.
If the asset finally breaks above the triangle, investors can be optimistic that a rise above the 200-day moving average and toward the $0.7 resistance level would be probable.The XRP/BTC pair demonstrates even lower volatility, as the price has been practically moving horizontally. The market has been hovering around the 800 SAT level for almost two months now.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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