- XRP price has formed a bullish Doji pattern with an intraday loss of 7.92%.XRP/BTC pair is currently in a negative trend with a loss of 2.35%
- Technical Indicators suggest a bullish trend for the coin.S2F number for XRP is negligible in comparison with other ALT coins
It has seen a gain of more than 140% from the start of this year. XRP price forecast a gain of more than 35% in upcoming month.It was created by Ripple to be a speedy, less costly and more scalable alternative to both other digital assets and existing monetary payment platforms.It runs on a distributed ledger system called XRP ledger.
XRP is currently ranked 7th with a market capitalization of $51,139,867,546. The volume($6,399,305,385 ) of the coin has seen a gain of 17.7%. The volume to market capitalization ratio for the coin is 0.274. If it crosses above 0.8, then a huge buying rush can be seen.
Technical Indicators Highlights A Bearish Momentum For XRP Price Forecast
The weekly technical chart of XRP showcases consolidated momentum.The daily chart of XRP Price forecasts a bullish sentiment.XRP price is trading above 50 and 100 Moving average. The 50MA(RED) line is at $0.485, making it temporary resistance for the coin. Resistance for the coin on the upside is at $0.6 while coming on to the downside,the bounce-back can be seen from $0.42 .A bullish doji pattern is formed on to the shorter time frame of 4 hr chart.If the price breaks above $0.53 then a bullish momentum can be seen.
The volume indicator of the coin is at 4.59M showcasing a weak bullish momentum.If the price breaks above $0.53 then a buying rush can be seen.
RSI(Bearish): It is trailing at 44.42, showcasing its presence in the neutral zone. There is a positive slope formation in the RSI, highlighting that the price can see a strong uptrend. The overall sentiment of RSI is bullish.
Conclusion
XRP price forecast a bullish trend for upcoming trading sessions. XRP has seen various ups and downs but their community has been strong for a long period. XRP/BTC can see a strong uptrend in upcoming days.An investor should do their due diligence
Technical Levels
Major Support :$0.42
Major Resistance:$0.6
