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- XRP started to fall after the recent 52 weeks high of $1.96 and found a support zone near $0.95
- Currently, the coin is trading just above the 50 EMA, which is above the 200 EMA, implying the uptrend is intact.
- The XRP/BTC pair is trading at 0.00002151 with an intraday loss of 4%
XRP coin price fell after consistently moving up and creating a new 52-week high of $1.96; currently, it is holding above 50 and 200 EMA in the daily timeframe.
The selling volume over the daily chart is also good. After a sharp selloff, a new support level was observed at $0.95.
The live XRP price today is $1.03 with a 24-hour trading volume of $20,552,200,493. XRP is down 19.23% in the last 24 hours. The live market cap of the coin is $46,939,741,876.
Failure Of 200 EMA may lead to the downfall
XRP had made a descending triangle pattern in the 4-hour timeframe after reversal from a 52-week high level. XRP coin price had a fallout of this pattern recently. A short-term pullback is expected to give a retest for the fallout.
The coin price has fallen 19% in the last 24 hours. 200 EMA and the $0.84 support level have pushed the price back up; however, a resistance trendline is also observed. The levels of $0.84 and $0.65 are the immediate support, whereas the immediate resistance level is $1.51.
The coin price finds support near the 200 EMA (white) as the price trades below the 50 EMA (yellow). The 50 EMA is above the 200 EMA in the 4-hour timeframe implying an uptrend.
The RSI (Bullish) indicates bullish momentum while trading at 29.43. However, XRP, after a slope down, is now heading towards the overbought zone.
The ADX indicates a gaining momentum as it is trading at 35 while the spike in ADX is increasing, implying a positive growth of momentum.
Conclusion – XRP coin price has recently exhibited a fallout of a descending triangle pattern suggesting a start of a downtrend. A short-term pullback is anticipated to give a retest. Support from 200 EMA and long tails near support levels could push back the price, so early traders must wait for retest confirmation.
Support- $0.84 and $0.65
Resistance- $1.5
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
