The consolidation in ripple (XRP) has now entered the 10th day. It is very unusual for cryptocurrencies to consolidate for so many days in a row. Even though, last year many expected that this year right from the start would help investors see some gains in ripple (XRP). That, however, has not happened. It saw a fall on January 10, and after that, it is consolidating on a consistent basis.
When will this consolidation end in ripple (XRP)?
It seems like; it might continue in this range up until any of those levels are broken. The problem is that consolidation leads to lower volumes. At lower volumes, certain volatility on either side is possible. It will not be suitable for investors who are trading ripple (XRP) for an extended period hoping that it will be able to blast through the resistances which we just mentioned. Unless and until it does not clear the resistance, there is not much movement expected in ripple.
Also, if you’re thinking about taking positions at current levels, it is a good idea to verify the trade with the different indicators like MACD and RSI before making a decision. When you do that, the chances of a false trade happening will be significantly lower.