XRP stays within a huge horizontal channel on the Hourly chart
Ripple / Dollar BITFINEX:XRPUSD
Ripple stays within a huge horizontal channel on the Hourly chart. XRP price jumped off the support area at $0.6629 yesterday and managed to cross the resistance area at $0.6903. However, later, the currency pair declined towards this area to test it from above. It currently stays close to those levels. XRP/USD tests the lower side of the Ichimoku cloud .
The possible scenarios for Ripple are the following:
1. XRP/USD will jump off the support area at $0.6903 and will start to move towards the next resistance at $0.7421. There is an obstacle on the way as we are close to the Ichimoku cloud .
2. Ripple will break through the support area at $0.6903 and decline further towards the next support area at $0.6629.
3. The currency pair will stay close to the current levels without significant changes.
As for the daily chart , there is no clear tendency here. XRP price has left the Ichimoku cloud but is still unable to make any momentum.
Check the full crypto analysis HERE