XRP / USD Technical Analysis: Bull invites investor sentiment to prepare for the uptrend

An amazing bull run has hit the cryptocurrency market today, which, all the coins across the board have started to show off their green glory. Most of the coins under the top-10 have increased in double-digit figures, including XRP.

At the time of writing, the token had increased by 13%, with a bullish price of $ 0.37 with a market capitalization of $ 15.2 billion. Here, the total trading volume of 24 hours was recorded at $ 926.2 million.

1 hour:

XRPUSD 1 hour candelabras | Source: tradingview

In the 1 hour chart of XRP, you can see two steep uptrend trends, following a ladder pattern. While the first green trend line extends from $ 0.29 to $ 0.33, the second trend line extends from $ 0.34 to $ 0.37. A resistance level is set at $ 0.38 to keep the price from rallying upwards. In addition, the concentration of prices in the candelabra was detected, supporting a trend breakout soon.

The Parabolic SAR It is currently bullish on the cryptocurrency as the points gathered under the price candles alongside the bull.

The Aroon indicator it is showing a weaker strength for the green trend. However, the indicator is still bullish on the market as the upward trend is relatively stronger than the downward trend.

The Chaikin cash flow hit the roof to indicate that the pressure of purchase pressure. Therefore, the indicator is extremely bullish on the trend of XRP prices.

1 day:

XRPUSD 1 day candlesticks | Source: tradingview

In the 1-day timeline, the chandeliers saw a lot of volatility in the XRP market. There is a strong upward trend going from $ 0.27 to $ 0.48, while a sudden downtrend has been seen from $ 0.51 to $ 0.36. Here, support is set at $ 0.26 to contain the price from the fall.

The Bollinger bands they are leaving an unfixed position on the volatility of the XRP market as the bands are running parallel to the moment.

The RSI it has risen in the bullish area of ​​the chart and is assuming a bull run for the cryptocurrency.

The Relative vigor index he also made a bullish crossover from the signal. The RVGI is currently moving upward with a positive forecast.

Conclusion:

In this technical analysis, short-term indicators are bullish on XRP, in sync with the forecast of the indicators used in the last period of time.

Follow us on Telegram | chirping | Facebook

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.