The price of XRP is trading sideways during the past few days, between $ 2.20 and $ 2.35 with no clear step in either direction. This is mostly in line with how the wider encryption market behaves this week with BTC PRICE stuck in the 82-84K domain and ethereum barely moving between $ 1870 and $ 1950.
There are some rumors about the XRP case versus SEC that is likely to end soon, but nothing is tangible yet. So, where can the XRP price go after that?
Technical indicators analysis
Let’s take a look at some technical indicators:
RSI (14) is 47.403 – The relative strength index is currently less than the mid -50 point. This indicates that XRP is in a neutral area, neither excessive purchase or excessive. Reading refers to a slight downtown but not enough to suggest a strong declining direction.
MACD (12,26) is -0.062 The index of moving average rapprochement shows a little negative value, indicating the short -term momentum. However, the value is very close to scratch, which indicates that the declining pressure is minimal and can be reflected with a small transformation in the market morale.
CCI (14) is -15.9559 -The commodity channel index appears to be a negative reading, but it remains within the normal rate (-100 to +100). This indicates that XRP does not deviate from its average historical price, but it suffers from simple declining pressure.
The final oscillator is 45,284 – This reading is less than 50 points to a slightly landfill across multiple time frames. However, it is not far from the neutral sign 50, indicating that the pressure pressure is not overwhelming.
ROC is -8.061 – The change rate It shows a negative value, which means the price of XRP decreases compared to its price from the past specified period. This 8 % decrease indicates that some of the pressure pressure was present recently.
Taurus power/bear (13) is -0.0308 – This indicator shows that the bears have a slight advantage in the market now, but the value is very close to scratch. This indicates that the battle between buyers and sellers is somewhat balanced with only a small feature of the sellers.
Also read: Why are XRP investors preparing a big break? Explain the analyst
XRP price expectations for today
XRP is likely to remain in its current range. We expect the price to move between $ 2.22 and $ 2.32. Technical indicators indicate a slightly more activity near the bottom of this range.
If bad news appears about the SEC case, the XRP price may decrease to less than $ 2.20 and can test $ 2.10. This is very unlikely but it can happen if the market becomes negative.
If good news erupted or the encryption market in general, XRP can pay more than $ 2.35 and may reach $ 2.45. In order for this day to happen, we will need to see a strong positive development or a sudden increase in buying attention.
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