The buyers are still not back in Ripple as it is struggling to bounce off the $0.42420 line. It is facing resistance at the 20-day EMA.
The XRP/USD pair is currently consolidating in a broad range of $0.42420 – $0.51978. A breakdown of the support can sink it to $0.33. The only minor positive is that the RSI has been forming a positive divergence.
If the bulls’ break out of the overhead resistance zone of $0.51978 – $0.56270, we anticipate a move to $0.63 and after that to $0.7 levels. We might suggest a buy position once the price sustains above $0.56270.