The leading cryptocurrency, Bitcoin (BTC), once again broke above the $31,000 mark, opening the doors for a small rally in the market. However, the number of altcoins partaking in this volatility of BTC turned out to be fewer than expected. Does this quietude for XRP, which has been standing still for weeks, signal the calm before the storm? Is a critical day approaching for the XRP coin?
XRP Coin Price
Looking at the XRP/USD pair, it can be seen that the price has been anchored at $0.48 for a long time. XRP moves daily between $0.47 and $0.49, and this narrow range could indicate that XRP is about to explode soon.
For XRP, it’s clear that $0.49 is a very critical resistance. Although it has made several attempts to exceed this limit, XRP, which has been unable to reach sufficient volume, has not been successful so far. However, there are even more important indicators for XRP, and RSI and STOCH are giving intriguing signals.
When looking at the RSI (14) indicator for XRP, it’s seen that it remains above the 56 level. This suggests a buying position and an increasingly strong buying point. Normally, a value above 50 indicates positivity for the RSI, which ranges between 0 and 100, while a value below 50 signifies negativity. Despite the price of XRP being stable for a long time, the continuation of RSI’s increase indicates a potential upward explosion.
XRP Coin Comments
On the contrary, the STOCH (9,6) data is focusing in the opposite direction. The oscillator, with a reading of 38.128, is pointing towards a selling position and can be considered a critical indicator. The current value of XRP is much higher than it should be according to this indicator.
Looking at MACD, ADX, Williams %R and CCI 14 data for XRP price, the general sentiment appears to be focused on buying. With all these indicators leaning towards buying while the price remains almost static, it points towards a likely imminent explosion. After the $0.49 resistance for XRP, it appears that the next target is $0.62. Following this, with positive news from the XRP lawsuit, the price has the potential to rise to $1.
