Even though XRP has been trading in a narrow and uninspired range lately, it could be the beginning of something bigger. Since early May, lower highs have been steadily forming, indicating a slight downward tendency in the price action of XRP. At about $2.32, XRP is consolidating just above the 50 and 100 EMAs, which indicate a critical support zone and are gradually approaching a cross. XRP may need these convergent moving averages as a lifeline.
A cross between the 50 and 100 EMA has historically frequently served as the catalyst for an increase in volatility, pushing the price in either direction. In light of XRP’s recent price stagnation, a bullish breakout appears likely, especially if the larger cryptocurrency market can sustain its momentum. The volume is still…
