Home
News
- XRP has been one of the top performers on Monday’s market session in which it nearly gained around 3.00%
- The XRP/BTC pair is also performing positive with the overall gain of 1.64% bringing the current level to 0.00002154 BTC
XRP after breaking below the price level of $0.240 on Sunday’s market session triggered its buying volume on Monday’s market session having an overall gain of 2.50% and reclaimed the price mark of $0.240. The CMP is placed at $0.247933 with the market capitalization of $11,218,505,648 with the 24-hour volume traded of $1,461,347,010. The crypto asset might be able to reclaim the $0.250 mark with this positive move.
Technical Levels Turning Positive for XRP
The technical levels highlight the downtrend faced by Ripple from the past month which is later followed by price recovery action this month. Currently, the digital asset is facing major resistance which is placed at 0.5fib level which forces the price levels to break below 0.236fib level. However, just after the break, the buying volume was triggered and the positive move was back. This helped the price levels to maintain sustainability above the 0.236fib level giving a positive signal in the market.
The directional movement index is showcasing bullish nature as ADX(29.69) is well above -DI(15.50).
The commodity channel index had a sharp positive divergence from the oversold region and reached the overbought region with the current level of 315.26.
The relative strength index is also showcasing positive nature targeting overbought region with the current level of 61.26.
Will the Current Positive Move be Sustainable for XRP?
The technical levels and overall market conditions are favoring the crypto asset. We can expect the price levels to have a positive breakout above the price mark of $0.250.
RESISTANCE LEVEL: $0.250 & $0.264
SUPPORT LEVEL: $0.240
Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.
Download our App for getting faster updates at your fingertips.
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.
