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XRP / USD Technical Analysis: Cryptocurrrency continues to navigate the bull wave when prices increase

The cryptocurrency market has seen massive price volatility that has worked positively for the coins in the rankings. Popular cryptocurrencies like Bitcoin [BTC], XRP and Ethereum [ETH] all have witnessed increases that have raised their prices and protected their price supports.

1 hour:

The graph of an XRP hour shows a peak that has raised its price from $ 0.369 to $ 0.455. Support reached $ 0.292 while immediate resistance is at its recent peak, $ 0.455.

The Relative strength index [RSI] he broke the overbought zone and again immersed himself in the chart. This is a sign of the buying pressure that is significantly higher than the selling pressure.

The Chaikin cash flow the marker has fired above the zero lines and is keeping strong at that point. This shows that the money that comes on the market is much more than the money that comes out of the market.

1 day:

The one-day XRP chart shows a cryptocurrency that is recovering from the price collapse. The recent downward trend saw prices drop from $ 0.51 to $ 0.292 while the following uptrend led the price from $ 0.312 to $ 0.436. Long-term support reached $ 0.2593.

The Bollinger band shows a divergence with the upper band and the lower band moving away from each other. The last bullish peak contributed to the divergence as the price candle left Bollinger's cloud.

The MACD the indicator points towards the signal line and the MACD line moves upward, a bullish signal. The divergence between the two lines also indicates a prolonged upward stroke. The MACD histogram, on the other hand, was a sporadic mix of bullish and bearish signals.

Conclusion:

All the indicators mentioned above show that XRP is enjoying the race towards the end of the year. The price supports seem to be safe for the time being while the bullish peaks will be reduced in frequency.


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Akash Anand

Engineering graduate, crypto and arsenal fan. He is fascinated by technology and all its wonders. Strictly against the pineapple on the pizza.

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