Ripple (XRP) Suffered Sharp Negative Divergence, Bears Are Back

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Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • Ripple suffered a heavy fall today’s market, leading the prices below the level of $01760,
  • The cryptocurrency is suffering the major dominance of bulls in the market.
  • Still, XRP/BTC pair is performing positively with a profit of 3.63% bringing the level to 0.00002692.  Ripple

The XRP prices are were making an impressive climb and there were chances that it could achieve the important resistance level of $0.1920 but it started facing variations against this level and then collapsed.

Currently, XRP prices are trading below the price level of  $0.1760 at  $0.1693 with heavy volatility in the and now their current objective will be to re-acquire the price level of $0.1760.

Ripple is currently making its move with the support of price support of the price level of  $0.1600. There are chances that with the support of this level prices can acquire their bullish momentum again and defeat this bullish momentum.

The current  market capital of Ripple is $7,441,034,864USD with volume traded of $2,831,502,071 USD and the circulating supply of 43,906,191,900 XRP.

Ripple price analysis

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Ripple2
Source:tradingview

The Technical chart reflects there is a heavy bearish trend that emerged in  XRP. Prices are trying to resist but they are suffering major downfall in the market.

The technical indicators and oscillators are showing an increase in the selling volume of the cryptocurrency. The negative trade was so intense that even when the prices were in bullish momentum, they were unable to save them from losing bulls and then maintaining a fall

The MACD levels are showing that there is an increase in the selling volume of the cryptocurrency and the level is overtaken by the selling volume. Even after trying to recover after flat trade, prices acquire bearish momentum.

The 24hr – RSI suffered a major negative divergence from the top and now trying its level best to not fall below the crucial level of 50

The 24hr-CCI had is trading in the normal zone after being knocked out from the over buying region.

Resistance Level: $0.1760
Support Level: $ 0.1600

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