XRP - USDT on 1D interval Resistance and Support
As the last one in today's chart, we have the XRP to USDT chart on a one-day time frame. As we can see, we are just below the downtrend line, which XRP is clearly trying to break.
What's more, we can see a rounding bottom formation formed, which after positive resistance testing is characterized by an upward exit, in this situation we need to positively test resistance at $0.39, then we can see resistance at $0.43, then a strong resistance zone from $0.46 up to $0.50.
However, if it happens that the price does not follow the formation and our expectations, we can observe a correction in this situation, we have the first support at $0.38, the second at $0.37, and then the support zone from 0.35 to $0.34.
On the volume, we can see a definite advantage on the buyers' side, which is positive news for us. The CHOP index indicates that the energy is starting to gather strength, the MACD confirms the uptrend, but the RSI is moving at the upper end of the range, which may indicate a moment of rebound before further growth.
What's more, we can see a rounding bottom formation formed, which after positive resistance testing is characterized by an upward exit, in this situation we need to positively test resistance at $0.39, then we can see resistance at $0.43, then a strong resistance zone from $0.46 up to $0.50.
However, if it happens that the price does not follow the formation and our expectations, we can observe a correction in this situation, we have the first support at $0.38, the second at $0.37, and then the support zone from 0.35 to $0.34.
On the volume, we can see a definite advantage on the buyers' side, which is positive news for us. The CHOP index indicates that the energy is starting to gather strength, the MACD confirms the uptrend, but the RSI is moving at the upper end of the range, which may indicate a moment of rebound before further growth.
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