XRP Bullish Move Exhausted at the Level of $0.249

  • The altcoin trading at the level of $0.249 with a price drop of -2.55% in the last 24-hours  
  • After making the low of $0.232 on the monthly chart the price recovery helps the crypto asset to gain the level of $0.248
  • The market capitalization of the coin stands at $11,285,919,387 and the Bitcoin dominance at 58.6%
source: tradingview

XRP is seen forming an ascending triangle pattern over the 4-hours monthly candlestick chart with the strong resistance of $0.260 as the rejection of the candles is observed and the support is rising at the chart forms the ascending triangle pattern after making the low of $0.232.

The support level for the crypto asset is $0.239, while the minor resistance is $0.251 and the major support is $0.232. The big move is expected after completing the pattern.

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The volume traded in the last 24-hours is $1,828,421,689 and the market cap is $11,285,919,387. The coin gained 2% in the last seven days.

source: tradingview

Relative Strength Index (RSI) indicates the sharp recovery after making the low. The coin recovers and shows a bullish movement and trading at the level 43.36 with respect to support and resistance. The recovery in RSI indicates the positive movement in the price in the coming days.

Commodity Channel Index (CCI) also indicates the price recovery helps the coin in positive momentum.

source: tradingview

Moving Average Convergence Divergence (MACD) makes the high lows and trading in an upper range which indicate the positive momentum can be observed in the upper range, however,  the support and resistance must keep in knowledge for the investors.

Resistance level: $0.251 and $0.260

Support level: $0.239 and $0.232

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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