The XRP price has appreciated over the last 24 hours as market movers also witnessed the same price movement.
The coin gained 1.6% in that time frame. It is, however, still safe to say that the asset is consolidating.
In the past week, the XRP price has barely shown any movement, confirming sideways trading. The technical outlook for XRP shows that buyers are losing control of the market as selling strength continues to mount at press time.
XRP has to move past its immediate resistance line, and then only then will buyers regain strength. The coin has also formed a symmetrical triangle pattern over the last week.
This pattern is connected with either a breakout or a breakdown in price, as it also confirms that the coin has been trading laterally.
On the developmental front, Ripple began testing its XRP Ledger Sidechain, which is compatible with Ethereum Smart Contracts. This new development is yet to have an effect on the asset’s price.
XRP Price An ..
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