XRP seems like it hasn’t caught a break with its price. Once, constantly above $0.30, it is now stuck around the $0.20, sometimes dipping below it and sometimes surfacing above it. Recently, the price hit $0.25, but soon thereafter, the price decided to take a sharp U-turn, taking it back as low as $0.21.
XRP and its many fractals
Source: XRP/USD TradingView
As mentioned in quite a few articles, XRP exhibits fractal behavior more often than other cryptocurrencies. The same patterns appear over and over again but on different scales. Even as XRP stands at $0.22, there is yet another fractal continuation pattern formed; this indicates a further drop to $0.21, even $0.20.
Moreover, the VPVR indicator showed that the price, at press time, was facing headwinds, which gives rise to a scenario much different than the one mentioned above. The price could push from its current place to the next resistance level at $0.2268, a 3% rise.
Indicators
Source: XRP/USD TradingView
The indicators for XRP show contradicting indicators to the downside move. The Relative Strength Index indicates a revitalization of the buying strength and hence an indication of a potential surge. The same can be said about the MACD indicator with the formation of a bullish crossover. Since both indicators are exhibiting bullish, there is a chance that the price might push higher, instead of collapsing.
Conclusion
Due to conflicting indicators, there is a chance that XRP might go either way, it could go higher, i.e., a 3% pump or a dump down to $0.21 or $0.20, i.e., a 5+% drop in the upcoming days.
