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XRP Technical Analysis: Bear assumes the green pastures of the bull

The cryptocurrency market has gone through ups and downs, but has not seen anything shocking in terms of market movement. The second largest coin, XRP also saw side movements. However, between XRP and Ethereum there was a tiff for the second position, which won its place.

At the time of printing, the currency was valued at $ 0.3262, with a market capitalization of $ 13.3 billion. The XRP recorded a 24-hour trading volume of $ 398 million, a decrease of 0.45% from the previous day. The currency has been declining for a few days and has fallen by 2.01%, and is not showing any recovery as it falls further by 0.16% in the last hour.

1 hour

Source: view of trading

Source: view of trading

The one-hour currency chart shows a downtrend from $ 0.3353 to $ 0.3205, followed by a sudden surge. The currency then saw a massive downtrend from $ 0.3426 to $ 0.3317. The currency recorded resistance at $ 0.3317 and strong support was seen at $ 0.3256.

Awesome oscillator marks a bearish market with a faded momentum.

Bollinger Bands seem to diverge, increasing market volatility. The moving average line is under the candelabras which indicate a bullish market.

Chaikin money flow it is above zero, indicating a bullish market.

1 day

Source: trading view

Source: trading view

The one-day chart of the currency marks a gradual rise from $ 0.3674 to $ 0.5649. The chart also showed a recent downtrend from $ 0.5157 to $ 0.3760, with a resistance of $ 0.3760. The currency scored strong support at $ 0.2903.

Parabolic SAR indicates a bearish market as the markers lined up above the candlesticks.

MACD the line is below the signal line, marking a bearish market.

Relative strength index indicates that buying and selling pressures give each other night.

Conclusion

As for the indicators, Awesome Oscillator, Parabolic SAR and MACD, a downward trend will be carried forward. However, Bollinger Bands and Chaikin Money Flow indicate a bullish run, but most indicators start from the bearish realm.


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