XRP withdrew some of the huge gains it recorded after surpassing the previous resistance level of $ 0.3. Maker, on the other hand, showed a high probability of retesting $ 2,400 in the coming days.
Ripple (XRP) price analysis
The attached chart is a good example of why a bias alone is not a good indicator. The RSI had a lower peak as the price rose, but the bearish divergence just did not provide that good timing to enter the trade.
An unstable candle near the $ 0.62 zone was required to signal that the bullish momentum in the market was taking its place. After that, XRP dropped about 40% that same day.
Since then, the price of XRP has consolidated just below the 38.2% retracement level of the aforementioned drop. The trading volume has also remained low over the last few trading sessions. It seems unlikely that the $ 0.46 resistance will break behind such low volumes.
Maker (MKR) price analysis
The Stochastic RSI has corrected overbought levels even as the signal line catches up with the rising MACD line. Taken together, the conclusion is that the bullish momentum is slowing, but there is no retracement effect yet.
Some support levels can also be seen using the Fibonacci Retracement tool. Losing the 23.6% level to the bears will signal a deeper correction for MKR. Then a downward move could find support at $ 2,061 and $ 1,817.