- XRP price has given a golden crossover on the daily chart. Meanwhile, the XRP/BTC pair falls ahead by a gain of 0.92%
- Technical indicators for the XRP suggest a bullish momentum with the price heading for the resistance of $0.80
XRP price is currently at a value of $0.4716, with a gain of 4.22%. XRP will face resistance at $0.60, and on the downside, it can see a bounce back from the value of $0.35. It is trading above 50 and 100 Moving average. The 50MA (blue line) is at $0.458, making it temporary support for the coin. There is a golden crossover in the Moving Average which showcases that the price will see a bull rally in upcoming days.
If we look at the daily chart of the XRP, one finds that if we join the daily high, then a line is formed with a slope of 158. If we replicate this slope on the next line, we find that the price follows the same line. If the coin crosses 10% above the line, then a rally of 70% can be seen. The targeted price can move up to the level of $0.80.
XRP is currently ranked 7th, with a market capitalization of $21,446,928,386. Its volume ($4,839,253,914) has seen a change of 78.38% in the 24-hour time frame.
TECHNICAL INDICATORS SUGGESTS A BULLISH MOVE FOR XRP PRICE
XRP has given more than 147% return from the start of this year. The coin price has spiked from $0.26 to $0.68 in a mere span of 3 months. The weekly chart shows positive momentum, but it’s still a long way to go. In the shorter time frame of the 4-hour chart, it has formed an accumulation zone. There is a 70% surge remaining in xrp before it sees a lower level. If the price goes down to 8% of the accumulation channel, it would be difficult to retrace back. If the price goes above $0.57, it can go to $1.0.
RSI(Bullish): It is trailing at the value of 55.87, showcasing its presence in the bullish zone There is a positive slope formation in RSI, highlighting that the price movement will be positive in the upcoming trading sessions. The overall sentiment of the RSI is bullish.
XRP PRICE LOOKING FOR A BULLISH MOVE
XRP has seen various ups and downs since last year. Its Price is currently seeing an uptrend but can reverse its position in the upcoming trading session. XRP/BTC pair is performing negatively with a loss of 0.9%. An Investor should do their due diligence before investing.
TECHNICAL LEVELS
Major Support:$0.35
Major Resistance:$0.57
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.