After a long haul, XRP, the native token of a leading blockchain firm in the industry, has finally shown a green signal compared to the other cryptocurrencies on the chart. While all other coins continue to make a vertical movement, XRP took a hike of almost 3% today.
At the time of writing, the token was trading at $0.46 with a market cap of $18.4 billion. During this hour, XRP attained a pop of 2.7% with a total 24-hour trading volume of over $483 million.
1-hour:
XRPUSD 1-hour candlesticks | Source: tradingview
In the 1-hour scenario, the XRP candlesticks are showing a relatively steep rise in the price trend. The resistance line is ranging from $0.48 to $0.47 and forming an ascending triangle with the support line from $0.44 to $0.46. The support seems to be getting stronger as the candlesticks reach for the resistance level.
The Parabolic SAR is appearing evidently bullish on the XRP candlesticks. The dots are aligned below the candlesticks to offer support to the price trend for the coin.
The Chaikin Money Flow indicator seems bearish on the cryptocurrency since the reading line is swimming below the 0-mark. Furthermore, the indicator is showing no signs to take an upwards approach.
The Awesome Oscillator is flashing green as of now but has been switching between a bullish and a bearish stance more often than expected. Therefore, it is denying a steady prediction for XRP.
1-day:
XRPUSD 1-day candlesticks | Source: tradingview
In the 1-day XRP trading view, since May, the cryptocurrency has broken multiple supports. The most immediate support point violated by the candlesticks is the one set at $0.27, post which XRP was trading as low as $0.26. However, the support has returned to the same point as before in a more immediate scenario.
Since June, $0.69 has been holding the fort and acting as the strongest point of resistance. A milder and more immediate point of resistance is set at $0.58.
The possibility of a severe breakout in trend is not observed as the trendlines do not appear to be converging anytime soon.
The Bollinger Bands are depicting a low volatility in the price trend of XRP as they are forming a tunnel that is tightening its opening.
The MACD is currently bearish on the market as it is moving below the signal after making a downward crossover. However, the indicator is reaching for a bullish crossover, leaving the prediction in a blurred zone.
Meanwhile, the RSI is apparently playing for the bull-team and is traveling in a fairly healthy zone. The tip of the indicator is pointing almost sideways, almost denying a clear indication for the XRP price trend.
Conclusion:
Once again, the indicators have united to reflect a sideways price trend for XRP as the MACD, RSI, Awesome Oscillator and Bollinger Bands continue to take a neutral stance on the subject. The mild hope of market movement after the price hike of XRP seems to be emptied by the bland prediction of the above indicators.
The post XRP/USD Technical Analysis: Prices camp again post mild uphill run appeared first on AMBCrypto.
Source: AMBcrypto
Original Post: XRP/USD Technical Analysis: Prices camp again post mild uphill run
