XRP’s price has been moving between the $0.40 and $0.35 marks since December 25, after testing the $0.45 mark on December 24. The cryptocurrency has been trading around both of its SMAs, as they are located within its range’s borders.
XRP’s 14-day SMA is bent northwards below the 50-day SMA. This means the cryptocurrency is trying to move up against the US dollar. Its Stochastic Oscillators are closing in and appearing to either be starting a consolidation movement or starting to move north.
The $0.30 territory appears to be a strong support that could see XRP’s price move down to test the accumulation territory at $0.25 if broken, and that could help it surge if it manages to hold. A breakout above $0.40 may see XRP revisit its $0.45 high, and if sustained could see it reach $0.50.
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