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The XRP, the second largest cryptocurrency by market capitalization, has seen a significant fall since November and continues the struggle to regain its momentum. At the time of writing, XRP is trading at $ 0.28 with a market capitalization of $ 11.75 billion. The currency showed a decline rate of around 7% in the last week.
1 hour:
1 hour XRP chart | Source: TradingView
The 1 hour XRP chart is currently describing a downtrend that ranges from $ 0.31 to $ 0.29 with a support point set at $ 0.28.
Bollinger Band it is currently showing a downward trend when the chandeliers are forming below the simple moving average [SMA]. The bands are divergent leaving a huge gap for volatility in the XRP market.
The Chaikin cash flow [CMF] it fell below the zero line, indicating an influx of money moving slowly at the time.
The Awesome Oscillator it is also bearish at the end because the indicator shows an increase in red bars forming below the zero line.
24 hours:
1 Day XRP Chart | Source: TradingView
The daily chart of XRP is clearly on the bearish side with a downtrend ranging from $ 0.51 to $ 0.29. The support and resistance points are set respectively at $ 0.27 and $ 0.55.
The Parabolic SAR has formed an extended indicator above the candelabras, pushing them all the way down to further test the existing support points.
The MACD it is currently moving along the lowest point with both moving averages and signal lines showing a downward trend in this timeline.
The Relative strength index [RSI] has touched the sign of oversold and continues to move in the same direction without any progress.
Conclusion:
In this technical analysis, we note that in both times all the indicators show a bearish presence in the case of XRP. Parabolic SAR and MACD in one-day statistics indicate that bears are clearly dominating the long-term market.
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