Currency #XRP on the edge
According to the site, the chart clearly shows that currency $XRP is approaching the end of its trading range, as the price oscillates above the important psychological level of 2 dollars while being pressed against the lower bound of a descending channel. This is not a healthy bandage, but rather compression under continuous selling pressure.
Technically, the currency is caught in a clear decline, respecting lower highs for weeks and failing every rebound below the major moving averages. The area around 2 dollars is a local horizontal support area and the edge of the current channel and a psychological level, making it multi-functional. The danger lies in a decisive break of this level that could lead to a rapid move towards the next demand pocket with little structure to slow it down. Volume behavior does not support the bullish case, as spikes in selling indicate distribution rather than accumulation, while the relative strength index shows no significant bullish divergence.
