XRP/USD shows a sideway dynamic due to low trading activity and relative calm information field.
The instrument is now consolidating near the mark of 0.4762, which is the middle line of Bollinger bands.
Technical indicators mostly reflect the maintenance of the current dynamics.
Bollinger Bands are pointed sideways.
MACD volumes are in the negative zone and are moving along the zero line.
Stochastic’s lines are pointed upwards.
The downward trend will be restored after the price is set below the level of 0.4638 (Murray [2/8]).
One may speak about upward movement continuation after the price consolidates above the level of 0.4762.
In this case, the next targets of buyers will be the levels of 0.4882-0.5004.
Support and resistance
Support levels: 0.4638, 0.4516, 0.4394.
Resistance levels: 0.4760, 0.4882, 0.5004.
Short positions can be opened below the level of 0.4638 with the target at around 0.4516-0.4394 and stop-loss 0.4738.
Long positions can be opened above the level of 0.4760 with the targets at around 0.4828-0.5004 and stop-loss 0.4660.