XRP / USDT $xrp

XRP turned down from the overhead resistance at $0.56, but a minor positive is that the bulls have not allowed the price to skid below $0.50.The XRP/USDT pair may consolidate between $0.50 and $0.56 for some time. The downsloping 20-day EMA ($0.58) and the RSI near the oversold territory indicate an advantage to bears.

If the price breaks below $0.50, the pair could start its descent toward the next major support at $0.41. That could indicate arange-bound action between $0.41 and $0.50.

Alternatively, if buyers thrust the price above the 20-day EMA, it will suggest that bulls are on a comeback. The pair may then rise to the 50-day simple moving average (SMA) of $0.63.