The cryptocurrency started what we thought could be a rally, but came out to be only a 6 day winning streak, the pair lost all the progress shortly after and now consolidates at the $0.82 levels.
The Bollinger bands are steady but not very wide, volatility should be mild for this pair in the short term, the price traded in between the bands, slightly closer to the lower band; however not close enough to consider it low.
The moving averages are getting closer together and if XRP manages to get some profitable sessions, we might see a crossing very soon. If there is a crossing on the MA’s we might see a trend reversal and a rally from the crypto.
The relative strength index is currently at 42% which will allow the pair to start a rally if the conditions are set in the next few days.
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