By Dmitriy Gurkovskiy, author at RoboForex Blog

On Friday, May 22nd, the XRP is trying to restore after two days of sales but the impulse is not enough. The cryptocurrency is generally trading at 0.1968 USD.

The technical picture of Ripple on D1 has not much changed since last week and is typical of the whole crypto market. The pair keeps testing the lower border of the ascending channel, trading under 38.1% Fibo. At the current stage, this might mean that the asset is gathering strength to go on developing the ascending dynamics. On the MACD, the Golden Cross is still working off, while the histogram remains in the positive sector. These signals mean further growth with the aim of 50.0% Fibo or 0.2310 USD.

XRP/USD Daily

On H4, the picture is similar. The quotations keep trading near the lower border of the ascending channel. Meanwhile, the pair keeps trying to break away 38.2% Fibo. The aim of further growth is the same as on D1 – 0.2310 USD. The Stochastic is forming a Black Cross near the overbought level, which may signal an…

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Source: https://themerkle.com/xrp-price-analysis-for-may-22nd-xrp-has-little-strength-for-restoring/