XRP/USDT daily chart

XRP/USDT daily chart

Gate Trade Ripple Saturday, May 9, 2020 317 0

XRP has been trading between $0.20570-$0.22281 for the past four days. This shows a balance between buyers and sellers.

However, this tight range trading is unlikely to continue for long.A break above $0.22281 will be the first sign of strength. Above this level, a rally to the overhead resistance zone of $0.23612-$0.24770 is likely. 

below the support at $0.20570, a drop to $0.17372 will be on the cards. Therefore, traders can protect their long positions with stops at $0.20.