The performance of XRP was such that its price declined beneath the neckline of the inverted head and shoulders (H&S) pattern while the buyers were able to defend the 50-day SMA at $0.21. On January 26, the price was returned to over the neckline, suggesting buying at lower levels.
Nevertheless, the rebound is being resisted at $0.2326. The turning down of the price from the levels at the moment is going to strengthen the sellers to try to take the price beneath the 50-day SMA and the support at $0.20041.
The pair could consolidate for some days if the support level holds. The moving averages are flat while the RSI is over 50 level thereby suggesting actions within a range.
However, a successful push of the price over $0.2326 could bring forth a move to $0.25401. The ability of the price to surge pass this level could lead to an extension of the rally towards $0.31503.
As for BCH against the USD, there was a sharp rally within the previous two days and the price was able to break out of the overhead barrier at $360. It is positive for the pair because it reveals the use of the latest correction beneath $306.78 in building long positions.
The moving averages are sloping up while the RSI is near the overbought zone, suggesting that buyers are now in control.
Traders should focus $403.88 on the upside. A push in price over this level could bring on a rally to $480. The bullish perspective will not hold following the turning down of the price and a break beneath $296.13.