XRP Consolidates, Is It Going To Retrace Now?

XRP among other leading altcoins have been consolidating on its chart. Bitcoin slid below the $30,000 price level which has dampened the price action of altcoins. Over the last 24 hours, XRP made no price movement. In the last 24 hours, the altcoin gained a minor 2.4%. On the chart, the coin displayed bearish price action as the coin might be breaking the consolidation. The coin currently has found support at $0.34. The coin last touched the price level in the month of February 2021. If the coin pushes below further then it may touch the support level of $0.28. The global cryptocurrency market cap today was at $1.28 Trillion with a 0.7% positive change in the past 24 hours. If bulls still continue to struggle to break past the $0.43 resistance level then the coin is headed for another downslide. XRP Price Analysis: One Day Chart The coin was trading at $0.38 at the time of writing. The local support level for the coin stood at $0.33. If the coin continues to experience selling pressure then it could fall to a low of $0.28. Overhead resistance for the coin stood at $0.40. For the bulls to be back, XRP needs to break past the aforementioned price resistance and trade near $0.43. The volume of XRP traded had plummeted as seen on the one day chart. The volume bar was seen in the red which showed bearish significance in the market. Technical Analysis The buying strength tried to rise on the chart. After the coin was oversold it rec...