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XRP / USD technical analysis: investor sentiment by Ripple Swell can save bulls' price

XRP has seen a lot of exposure recently, due to Ripple's upcoming Swell conference. It also ended the month of September with a growth of 80% after the falls suffered.

1 hour:
The upward trend from $ 0.57 to $ 0.611 was reversed immediately after reaching the $ 0.611 ceiling. Corrected to $ 0.587, the bullish trend from $ 0.443 – $ 0.572 provides solid support for the currency.

The RSI has canceled its position at the center of the indicator after recovering from an overbought signal. Purchase pressure has eased and stabilized with sales pressure.

The Klinger volume oscillator is flashing a bearish signal, as evidenced by the short downward trend shown by the oscillator. This could mean that a bearish race is coming, unless the momentum develops and the volume is reduced.

4 hours:
The presence of an ascending triangle is observed, indicating an accumulation below the threshold of $ 0.57. The triangle is formed by the $ 0.611 level as the ceiling, with the $ 0.271 to $ 0.573 rise forming the support. The 20-hour WMA is $ 0.576, providing support for the next run.

The MACD, however, is divergent downwards. A bearish cross was also observed when the MA line moved below the signal. The histogram also indicates a further downward movement.

The Awesome Oscillator is flashing red and shows a bearish signal, seen from the red double lines of the indicator.

1 day:
The Chaikin cash flow indicator is positive and the buying pressure has not diminished since the recent uptrend.

The AccumulatiOn Distribution indicator is showing a sharp downtrend, usually perceived as a bearish signal.

The Parabolic SAR indicator is still showing momentum, seen from the presence of the indicator under the chandeliers.

However, there is a strong upward trend that could bring momentum, namely the increase from $ 0.326 to $ 0.574. Another slight long-term rise was seen from $ 0.507 to $ 0.574.

Conclusion:

As always, investor sentiment could end up saving the day for XRP by providing the momentum needed to beat the current bearish forecast. If the currency breaks $ 0.57, the upward movement will see the limits of $ 0.61 and $ 0.77 tested.

If sentiment does not prevail, the levels of $ 0.45 and $ 0.32 can be expected to be tested.


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Anirudh VK


Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and an interest in the future of blockchain and cryptocurrency technology. At the moment it does not have any cryptocurrency.


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