Last week, the market sentiment remained indecisive after Ripple touched a low of $0.4404 on April 21 and started to correct upwards. The market opened bullish this week.
On the hourly chart:
- The relative strength index is at 53.79, which signifies a neutral demand for Ripple at the current market prices and the continuation of the bullish phase in the market.
- Moving averages signal an upward price movement at the current market level of 0.4556.
- Both the STOCHRSI and Williams’s percent range are in the neutral zones, which means the price is expected to consolidate further.
- Ripple is now trading just below its pivot level of 0.4560 and is facing its classic resistance at 0.4574 and facing Fibonacci resistance at 0.4587, after which it will be able to move towards 0.4800.
- The prices are ranging near the horizontal support.
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CCI indicator is giving a bullish divergence signal. ..More info: blog FXOpen
