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While the cryptocurrency market makes a journey to regain lost volatility, XRP has recovered more than $ 0.55 today when the currency took a flight of over 21%.
At the time of printing, XRP was trading at $ 0.52 with a market capitalization of $ 21.3 billion and had risen 14% with a total trading volume of 24 hours equal to $ 1.4 billion. Because of the rally, XRP also passed Ethereum [ETH]The market capitalization to claim for a short period the second place on the cryptocurrency index.
1 hour:
XRPUSD 1 hour candelabras | Source: tradingview
In 1-hour XRP candlesticks, support extends from $ 0.5 to $ 0.52 while resistance is set to $ 0.55. Price trends are not showing price rupture as of now.
At present, the Parabolic SAR it's bearish because the points are lined up directly above the candelabras. The indicator is indicative of a short-term bearish run.
The Awesome Oscillator, in sync with the above, flashes in red. Therefore, both indicators used here support a negative price forecast for cryptocurrency.
1 day:
XRPUSD 1 day candlesticks | Source: tradingview
In the longer term, XRP candlesticks broke the resistance set in July at $ 0.5, setting a new resistance level at $ 0.58. The support line ranges from $ 0.27 to $ 0.45, forming an upward triangle in the market.
The Bollinger bands it has gone through a narrow path of volatility, but it is widening the neck of the bottle again to give way to price fluctuations. This is indicative of a volatile market for money.
The Klinger Oscillator made a new crossover from the signal line at the side of the bull. The reading line is taking a flight to establish a stronger positive forecast.
The Chaikin cash flow it has also risen above the 0-mark and aligns with the indicator above on the price trend.
Conclusion:
In this technical analysis, it was found that the indicators used in the 1-day chart are positive on the XRP market. However, previous indicators have canceled the price trend.
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