XRPUSD is stuck just above $0.62. Price for the last 12 trading sessions has made no real progress. Although other major cryptocurrencies have made a clear bounce higher from January lows, XRP seems to have made no progress.
Green line- major horizontal support
Blue lines- trading range
After the 22nd of January price has been mostly moving sideways inside a trading range. Price is moving between $0,54 and $0.65. The major horizontal support at $0.50 is still intact but we continue to believe that it will be tested soon. We believe the downside trend is not over. So far we have not seen a trend reversal confirmation. We have not seen any sign that would make us believe a major low is in.
