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XRP / USD Technical Analysis: Bear chasing the coin

The cryptocurrency market has been on the roller coaster in recent days and has not seen a long-lasting trend. The second largest cryptocurrency, XRP also addressed bears. Recently, he resumed his second position from Ethereum [ETH] and he tried hard to keep it.

At the time of printing, the cryptocurrency was valued at $ 0.3278 with a market capitalization of $ 3.4 billion. The currency recorded a 24-hour trading volume of $ 437 million, down 0.88% in the last 24 hours. The currency has been declining for a long time and recorded a decrease of 7.82% compared to last week.

1 hour

Source: view of trading

Source: view of trading

The hourly chart of the currency showed a downward trend from $ 0.3494 to $ 0.3379, after which it recorded an uptrend from $ 0.3228 to $ 0.3426. Later, the currency fell from $ 0.3429 to $ 0.3376. The currency had a marked resistance at $ 0.3374 and the support was noted at $ 0.3272.

Bollinger bands it seems to be in a convergent point and the moving average line is seen above the candelabras that point towards a bear market.

Awesome Oscillator it also indicates a bearish market that loses momentum.

Chaikin cash flow It is seen just above zero, marking an uptrend.

1 day

Source: view of trading

Source: view of trading

According to the one-day chart of the currency, there is an uptrend from $ 0.3680 to $ 0.5736, but the currency has collapsed after the increase. The coin fell from $ 0.5551 to $ 0.5736 with resistance to $ 0.3680. The currency was offered immediate support at $ 0.3216, where another support for $ 0.2906 was observed.

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

MACD the line is below the signal line, pointing towards a bear market.

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

Conclusion

According to the Bollinger Bands, Awesome Oscillator, Parabolic SAR and MACD indicators, the market forecast is downward.


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