XRP price technical analysis. Retracement below $0.30 mark
- XRP price gained over 10% over the weekend and Monday
- Psychological $0.30 resistance is reached
- Price retraces back to $0.29
1 Hour XRP/USD price chart
XRP price demonstrated a strong bullish move and went up from its lowest $0.265 price mark on the 11th of October to reach and test a very important psychological $0.30 resistance level. Since then the price naturally retraced back by around 1 cent and is now trading at around $0.29.
It is worth to note that price increase was a gradual movement without any really high spikes in volume and momentum. Furthermore, the fact that the candlesticks printed on one hour chart at the time the price reached $0.30 did not form any long high tails, suggests the resistance may be tested again soon. However, before the next test of the resistance, the price may well dip below $0.28650 and even $0.28250 support levels in search of liquidity and to trap some long stop-loss orders
Chart source: Tradingview
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