A look at the Weekly chart for XRP shows that price is trading at $0.32, slightly above the major support area near $0.27.
The previous week’s candle had a large upper wick, indicating that sellers have the upper hand.
However, this week we have had a bullish hammer candle.
Price is trading below the 21 and 50-period moving averages, the former providing very close resistance to the price.
Price is also trading below the Ichimoku cloud. The most significant resistance area is found near $0.45.
The RSI is at 43, indicating neither overbought nor oversold conditions.
On a more positive note, the MACD has made a bullish cross and has started to move upward.
A look at the 3-day chart shows that price has been following a descending resistance line which has been in place since September 2018.
Price has had four unsuccessful attempts at breaking out above but has been pushed back in every instance.
The 21 and 50-period moving…