Will XRP’s Lack of Momentum Turn Out to be a Major Hurdle for Price Growth?

• The price levels of ripple are unable to cross above the crucial mark of $0.26 besides major cryptoassets like Bitcoin and Ethereum gaining new levels for the year
• The XRP/BTC pair is having a marginal profit of 0.05% for the day bringing the current level to 0.00001945 BTC 

The weekly chart highlights the high degree of instability of the price levels above the mark of $0.26. This has been one of the major hurdles for the cryptoasset to gain any significant levels in the market. The CMP is placed at $0.254 with a marginal profit of 0.60% bringing the market capitalization to $ 11,525,434,541 with the 24-hour volume traded of $ 1,527,422,564. 

The consolidation activity for the coin is not a new trend in the price levels as they faced a major consolidation phase on previous occasions. Both the pairs of XRP/USD and XRP/BTC are refusing to show any significant movements in the levels resulting in an ongoing macro consolidation. However, being the world’s fourth-largest crypto asset in the world, Ripple has a lot to deliver in the near-term future according to some leading crypto analysts. 

Technical Levels Moving Parallel With XRP’s Consolidation

The technical chart highlights the downtrend faced by Ripple in the past month which is later followed by price recovery action this month. However, the significance of the recovery action is less compared to the downtrend faced. The retracement table shows that the price growth of the XRP has been completely halted by the major resistance placed at 0.5fib level. The price levels tested the resistance mark once this month and got major negative reversals during the end. Currently, the price levels are holding sustainability above the 0.236fib level. 

The relative strength index (RSI) is at the neutral range with the current level of 51.26.

The directional movement index (DMI) is showcasing bearish nature as ADX(16.76) had a negative crossover with +DI(19.48).

The moving average convergence and divergence (MACD) levels are also in declining mode after a bearish crossover. 

When Will XRP’s Consolidation Phase Be Over? 

With the current levels with respect to technical aspects and trading pairs of XRP, the consolidation phase can be prevailing for this month. A positive trend can be expected from the starting of the next month as November is proven to be bullish for the whole cryptomarket on past previous occasions.  

RESISTANCE LEVEL: $0.26

SUPPORT LEVEL: $0.22 & $0.20