XRP / USD Technical Analysis: The bull rejects the opponent to request a temporary victory

In the midst of the war between bull and bear, the cryptocurrency market is currently dominated by the bull. At the time of printing, XRP was also in the green zone, showing an increase of over 7% in the last 24 hours. The currency was trading at $ 3.7 with a market capitalization of $ 15.1 billion. The 24-hour volume was recorded at $ 651.2 million.

1 hour

XRPUSD 1 hour candelabras | Source: tradingview

In the scenario of an XRP candelabra, the downtrend line ranges from $ 0.41 to $ 0.37, while the upward trend extends from $ 0.32 to $ 0.34. However, it has not been observed that price trends have still experienced a concentration, so a trend breakout may take some time.

The Parabolic SAR it is extremely bullish on the cryptocurrency. At the moment, the points are assembled under the candles to provide support for a positive price forecast.

The MACD made a bullish crossover and is still traveling above the signal line. The indicator is still moving closer to confirm its position on the XRP market.

The Aroon indicator it is indicative of a stronger upward trend in which it is evident that the downward trend has weakened more. Therefore, the indicator provides for a bullish market for the currency.

1 day

XRPUSD 1 day candlesticks | Source: tradingview

In the time frame of XRP, the resistance level is set at $ 0.57 while the upward trend extends from $ 0.27 to $ 0.35. No signs of a trend breakout have yet been observed.

The Bollinger bands they are widening the gap between them to make room for price fluctuations. This suggests that greater volatility could be seen in the market soon.

The RSI it was crashing in the oversold area but it was pulled up to bring hope to the XRP market. As of now, the indicator seems quite bullish, despite being in the bearish zone.

The Klinger Oscillator he had also made a bearish crossover, but started to move upward to attempt a bullish crossover from the signal line.

Conclusion

In technical analysis, it was observed that most of the indicators are bullish on XRP. However, it is expected that the market will be highly volatile and unpredictable in the long run, as the indicators used in the one-day timing have not confirmed their bullish position.

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.