Ripple (XRP) continues to trade near the moving averages. Both the averages are flat and the RSI is just below the midpoint. This points to a balance between the buyers and the sellers.
The balance will tilt in favor of the bulls if the XRP/USD pair breaks out and closes (UTC time frame) above $0.33108. Just above this level is the resistance line of the descending channel. On rising above both these resistances, we expect the trend to change. The ensuing rally can reach $0.60 in the medium-term.
Conversely, if the bears sink the digital currency below $0.27795, it can plummet to the yearly low of $0.24508. We do not find any reliable buy setups at current levels; hence, we are not suggesting any trade in it.