XRP is in red, which has been the state of affairs for a while now. Unless there is a rapid shift in price action, preferably pushing prices above the current boring consolidation, bears will remain in control. As things stand, XRP has strong support at the $0.45 to $0.46 zone. Though narrow, bears have been unable to break below this line. Therefore, the zone presents a ray of hope for optimists. Even so, considering it has been retested multiple times, the capitulation could see the coin sink below $0.40 if broken.

Looking at the drab price action and the multi-week consolidation, XRP is still down 2% on the previous day and 6% on the past trading week. At the same time, engagement is below average, falling below $1 billion. As momentum wanes, bears will be the likely winners in the coming days.

Besides the uneventful state of price action, traders are also keeping tabs on the following XRP and Ripple news:

• Brad Garlinghouse, the CEO of Ripple, is convinced that the crackdown on crypto companies and innovation in the United States will be the main reason Donald Trump will win.
• Looking at the performance in the monthly chart, one analyst thinks XRP is preparing for a big move up. Presently, the coin is within a bull flag.

XRP Price Analysis

XRP/USD is moving sideways and bearish from a top-down preview.

The coin has support at $0.46 while resistance is at $0.45.

Since prices are consolidating, conservative traders can wait for a clean breakout.

On the other hand, every high below $0.52 could offer entries for sellers targeting $0.46 and $0.40 in the short term.

If there is a major Ripple news event that supports XRP, a breakout above$0.55 could signal a major shift in trend.

In that case, the coin could rally to $0.76 and even $1.